Gildan Finishes FY on Strong Sales Gains
Although net income fell slightly to $54.9 million from $74.3 million because of a tax benefit last year, sales jumped 11% to $653.7 million from $587.9 million for the three months ended Dec. 31. The strong sales performance was led by a 28% increase in the printwear business to $415.6 million from $325.8 million, which included a $16.6 million gain from the newly acquired American Apparel business but organic sales rose 23% on strong unit growth in the U.S. and overseas on momentum in fashion basics. Operating income in printwear jumped 21% to $82.8 million from $68.6 million. The branded ... Log in to view full article.