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MONTRÉAL - Gildan Activewear Inc. (GIL: TSX and NYSE), a leading manufacturer of everyday basic apparel, announced today that all eight director nominees listed in the company’s March 18, 2025 management proxy circular were elected at its annual meeting. Shareholders also passed a non-binding advisory vote on executive compensation and reappointed the company’s auditors.
The meeting, which was conducted in a hybrid format in Montréal, saw the re-election of directors with a significant majority of votes in favor. The detailed results showed strong support for each director, with the lowest percentage of votes received by a nominee being 88.63%. The resolution to reappoint auditors received 88.79% approval, while the advisory vote on executive compensation was favored by 83% of the votes.
The company, known for its activewear, underwear, and socks, markets its products under various brands including Gildan®, American Apparel®, Comfort Colors®, GOLDTOE®, and Peds®, and also holds an exclusive licensing agreement for the Champion® brand in the printwear channel. With annual revenues exceeding $3.2 billion and an impressive gross margin of nearly 31%, Gildan operates large-scale manufacturing facilities across Central America, the Caribbean, North America, and Bangladesh, and emphasizes its commitment to labor, environmental, and governance practices through its ESG program. According to InvestingPro, the company maintains strong financial health with a current ratio of 2.22, indicating robust liquidity.
Gildan’s product portfolio is distributed across multiple regions, including North America, Europe, Asia Pacific, and Latin America, catering to a diverse customer base ranging from wholesale distributors and screenprinters to retailers with physical and e-commerce platforms, as well as global lifestyle brands.
The company takes pride in its vertically integrated manufacturing operations and its dedication to high standards in its supply chain, aligning with its long-term business strategy and ESG initiatives. Further details on Gildan’s ESG practices and programs can be found on their corporate website.
This report is based on a press release statement from Gildan Activewear, Inc. The company has maintained dividend payments for 15 consecutive years and currently offers a dividend yield of 2.11%. InvestingPro analysis shows the stock is trading near its Fair Value, with 8 additional exclusive ProTips available to subscribers. For comprehensive insights into Gildan’s financial health and future prospects, access the detailed Pro Research Report, part of the extensive coverage available for over 1,400 US equities.
In other recent news, Gildan Activewear reported its Q1 2025 financial results, revealing a slight miss in both earnings per share (EPS) and revenue compared to analyst forecasts. The company posted an EPS of $0.59, falling short of the anticipated $0.64, while revenue reached $712 million, below the expected $727.24 million. Despite these misses, Gildan demonstrated a 2.3% year-over-year revenue increase and maintained a strong gross margin of 31.2%. The company also expressed optimism for mid-single-digit revenue growth for the year 2025.
Analysts from firms such as Citigroup and TD Cowen noted the company’s strategic moves, including a focus on innovation and market share gains, which could support future growth. Gildan’s management emphasized their competitive advantage as a low-cost manufacturer and highlighted new programs expected to drive significant sales growth in 2025. The company also maintained its guidance for the year, projecting an increase in adjusted operating margin and adjusted diluted EPS growth of 13-19%.
Additionally, Gildan addressed potential risks, such as tariffs on Asian imports and macroeconomic factors affecting consumer spending, but reassured investors of their mitigation strategies. The company plans to leverage its vertically integrated supply chain and innovation pipeline to navigate these challenges. Despite the challenging market conditions, Gildan remains committed to its growth strategy and long-term shareholder value.
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