By  on February 1, 2008

ATLANTA—Gildan Activewear Inc. reported a 76.3 percent surge in first-quarter net earnings to $27.5 million, or 23 cents per share, from $15.6 million, or 13 cents per share, in the year-ago first quarter.

The Montreal-based company, reporting results in U.S. dollars, said sales rose 34.8 percent to $250.5 million from $185.8 million, thanks in part to an increase of 92.7 percent, or $39.4 million, in sock sales because of the acquisition of Alabama-based, hosiery company V. I. Prewett & Son, as well as new retail sock programs obtained in fiscal 2007. Also, unit sales volumes for activewear rose 13.7 percent, and activewear unit selling prices rose approximately 2.5 percent.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus