GIL Stock Recent News

Shares of Gildan Activewear Inc. jumped on Tuesday following a report that the T-shirt maker had been put up for sale, marking the latest drama over the company's leadership plans.

MONTREAL, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL: TSX and NYSE) (“Gildan” or “the Company”) will report its 2023 fourth quarter and full year results on Wednesday, February 21st, 2024. A press release will be issued before markets open, and a conference call is scheduled on that same day at 8:30 AM ET to discuss the Company's results. The conference call can be accessed by dialing (800) 715-9871 (Canada & U.S.) or (646) 307-1963 (international) and entering passcode 8434821 #. A replay will be available for 7 days starting at 12:30 PM ET by dialing (800) 770-2030 (Canada & U.S.) or (609) 800-9909 (international) and entering the same passcode. A live audio webcast of the conference call, as well as a replay, will be available at the following link Gildan Q4 2023 audio webcast.

Gildan Activewear said on Monday that it will hold a special election to determine if ousted CEO Glenn Chamandy will return.

Gildan Activewear is a vertically integrated manufacturer specializing in everyday basic apparel with a product range including activewear, underwear, and hosiery items. I rate shares as "Buy" with a fair value of $44.85/share. Catalysts include a strong value proposition, expected input costs deflation, and new leadership.

Two large shareholders of Gildan Activewear have called on the company's board of directors to reinstate Glenn Chamandy immediately as the company's CEO to restore stakeholder confidence. Turtle Creek Asset Management and Browning West, which own roughly 3.2% and 3.9% respectively of Gildan's stock, both wrote to the Canadian apparel company's board after it announced on December 11 that it had appointed Vince Tyra to replace Chamandy from February 12, 2024, with Craig Leavitt, a director, acting as interim president and CEO until then.

GIL has left its operating margin outlook for FY 2023 unchanged, even though it expects its actual full-year revenue to fall at the lower end of its prior guidance. Looking forward, the market consensus sees Gildan's operating margin improving by +190 basis points in FY 2024, which is achievable considering the ramp-up in operations at its new Bangladesh plant. My rating for GIL remains as a Buy, as I expect that Gildan can command a higher valuation multiple in the future as its operating margin expands.

Gildan Activewear Inc. (NYSE:GIL ) Q3 2023 Earnings Conference Call November 2, 2023 8:30 AM ET Company Participants Jessy Hayem – Vice-President and Head-Investor Relations Rhod Harries – Executive Vice-President, Chief Financial and Administrative Officer Chuck Ward – President-Sales, Marketing, and Distribution Glenn Chamandy – President and Chief Executive Officer Conference Call Participants Paul Lejuez – Citigroup Chris Li – Desjardins Jay Sole – UBS Mark Petrie – CIBC Vishal Shreedhar – National Bank Financial Martin Landry – Stifel Brian Morrison – TD Securities Stephen MacLeod – BMO Capital Markets David Swartz – Morningstar Sabahat Khan – RBC Capital Markets Operator Ladies and gentlemen, thank you for standing by, and welcome to the Third Quarter 2023 Gildan Activewear Earnings Conference Call. Please be advised that today's conference call is being recorded.

Gildan Activewear's (GIL) Q3 results are likely to reflect the impacts of a tough macroeconomic environment. Its strong brand, product innovation and customer service bode well for market share gain.

MONTREAL, Oct. 18, 2023 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL; TSX and NYSE) will report its 2023 third quarter results on Thursday, November 2, 2023. A press release will be issued before markets open, and a conference call is scheduled on that same day at 8:30 AM ET to discuss the Company's results.

Gildan Activewear Inc. (GIL: TSX and NYSE) announces today that Glenn J. Chamandy, President and Chief Executive Officer and Rhodri J. Harries, Executive