Basics Juggernaut Gildan Gains from Hanesbrands Acquisition
Net income slipped 58% to $56.1 million from $132.3 million for the fourth quarter as sales jumped 31% to $1,078.5 million from $821.5 million on the addition of $217 million in Hanesbrands sales from Dec. 1, while organic growth was up 5%. Backing out $4.9 million from the bottom line in discontinued operations from Hanesbrands Australia, whose sale is now underway, net income was down 61%. By region, U.S. sales were up 34% to $976.6 million, Canada grew 29% to $34.2 million, and International went +5% to $67.7 million. International was ... Log in to view full article.