Gildan Activewear reported Q3 net sales of $911m, a 2.2% increase from last year, meeting low single-digit growth expectations. Operating income was $192.1m, down 0.4%, and net profit was $120.2m, an 8.6% decline from Q3 2024. The company’s president, Glenn Chamandy, attributed the results to strong net sales growth in Activewear.

Chamandy praised Gildan’s Q3 performance, highlighting the company’s focus on execution and its sustainable growth strategy. Gildan’s activewear sales saw a 5.4% increase to $831m, driven by product mix and higher prices. However, hosiery and underwear sales dropped 22.1% to $80m due to lower volumes and market weakness.

International sales for Gildan decreased by 6.1% to $60m, reflecting soft demand across markets. Despite macroeconomic challenges, the company remains committed to its growth strategy. Gildan maintains its 2025 revenue growth guidance of mid-single digits and anticipates an adjusted operating margin increase of approximately 70 basis points.

Gildan is set to acquire Hanesbrands to strengthen its operational capabilities and solidify its position in the global apparel market. The acquisition is expected to enhance Gildan’s business model and execution, leading to future growth opportunities. Adjusted diluted EPS for 2025 is projected to be between $3.45 and $3.51, up 15% to 17% year over year.

Read more at Yahoo Finance: Gildan reports record Q3 ahead of HanesBrands acquisition