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Gildan Breaks Sales Record in Q1

Stronger demand in North America propels apparel maker to profit surge.




Gildan Breaks Sales Record in Q1
Sewing operator at one of Gildan’s sewing facilities assembling a T-shirt. Courtesy of Gildan.

Gildan Activewear (Quebec) posted record sales of $775 million for its first quarter, up 31% over the prior year, as the apparel maker was propelled by strong demand in North America.

The company recorded a profit of $146.4 million, up from $98.5 million a year ago, representing a 48.6% surge.

Activewear was a principal catalyst as category sales totaled $667 million, up 38% over the prior year for the three months ending April 3. In an earnings release, the company attributed this jump to volume growth, net selling price increases, and favorable product mix.



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