SALES SURGE GIVES GIL­DAN US$ 68M PROFIT

National Post (Latest Edition) - - FINANCIAL POST -

Gil­dan Ac­tivewear Inc. says a 20- per- cent in­crease in Gil­dan- branded un­der­wear sales and even big­ger growth at its print­wear seg­ment helped the cloth­ing man­u­fac­turer to a US$ 67.6mil­lion profit in its fourth quar­ter. Over­all sales at the Mon­treal- based com­pany were up 39.2 per cent to US$ 543.8 mil­lion, from US$ 390.6 mil­lion a year ear­lier, and above the com­pany’s es­ti­mate — mainly due to un­ex­pect­edly high sales of T- shirts made by its print­wear seg­ment. Sales of higher- mar­gin branded ap­parel were US$ 258.9 mil­lion, up 12.4 per cent from US$ 230. 3 milli on. The seg­ment in­cludes sales of Gil­dan un­der­wear, which had been the fo­cus of an ad cam­paign fea­tur­ing coun­try singer Blake Shel­ton. Gil­dan’s net profit for the quar­ter ended Jan. 3 — re­ported in U.S. cur­rency — was equal to 28 U.S. cents per share.

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