Record Second Quarter Sales
Gildan reported record second quarter sales of $919 million, up 6.5% year-over-year, driven by strong Activewear sales growth of 12%.
Record Adjusted Diluted EPS
The company reported a record adjusted diluted EPS of $0.97, reflecting a 31% increase year-over-year.
Market Share Gains
Gildan continued to gain market share in key growth categories, leveraging its strong brand portfolio including Gildan Soft Cotton Technology, Comfort Colors, and American Apparel.
Improved Gross Margins
Gross margin improved by 110 basis points to 31.5%, driven by lower raw material costs and favorable pricing.
Strong Cash Flow Management
Gildan generated $154 million of free cash flow in the second quarter and returned $206 million to shareholders, including $68 million in dividends.
Recognition for ESG Efforts
Gildan was recognized as one of Canada's Best 50 Corporate Citizens by Corporate Knights and featured among TIME's World's Most Sustainable Companies.