The Canadian textile group Gildan Activewear Inc. started with a slight increase in sales into the 2025 financial year.
In the first quarter of the current financial year, the company achieved a net turnover of $ 712 million (625 million euros), which corresponds to an increase of 2.3 percent compared to the previous year. However, the adjusted net profit fell by $ 89.8 million by 9.4 percent.
The company’s activewear sales increased by nine percent, which is due to higher sales quantities and a cheap product mix in North America. However, sales with tights and underwear decreased by 38 percent due to the retirement of the Under Armor business.
Regardless of the different development in the individual segments, the company expects sales growth in the middle single -digit range for the year as a whole.
“Despite the currently difficult macroeconomic environment, our focus continues to use our Gildan Sustainable Growth (GSG) strategy, which is underlined by our performance in the first quarter, including strong net sales growth of nine percent in the area of Activewear,” said Glenn J. Chandy, President and Chief Executive Officer (CEO) from Gildan.
Gildan confirmed his overall annual forecast for 2025 and explained that it continues to expect sales growth in the medium single-digit range, an adjusted operational margin of around 50 basis points and an adjusted diluted result per share (EPS) in the range of $ 3.58, which corresponds to an increase of $ 13 to 19 compared to the previous year.
This article was used with digital tools translated.
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