Gildan Activewear Inc., Montreal, reported an adjusted earnings increase of 31.5% in its fourth quarter.
A 22.3% increase in activewear sales led to the jump. The increase in the activewear category in the fourth quarter, where $569 million in net sales was generated, was mainly due to higher unit sales volumes, a better product mix, driven primarily by higher fleece shipments, and higher net selling prices, according to the company.
“We ended 2018 on a strong finish, meeting our full-year financial targets after successfully navigating through unanticipated weather impacts and supply-chain disruptions during the year, and executing well on our organizational consolidation initiatives,” the company said in a statement — D.S.
