Gildan Makes Acquisition, Announces Quarterly Financials
Meanwhile, Gildan also announced results for its fourth quarter, which ended January 4. The company reported a net loss of $41.2 million, or $0.34 per share on a diluted basis. Consolidated net sales for the quarter reached $390.6 million, down 13.5% from $451.4 million during the same period the prior year. Weaker printwear sales – down to $160.3 million for the quarter from the prior year's $261.8 million – played a significant factor in the overall drop.
"The decline in the company's sales and earnings compared to last year was primarily due to the impact in the quarter of the strategic pricing actions in printwear, which the company announced on December 3, 2014 in order to reinforce its leadership position in the industry," Gildan said in a statement. "The company lowered base selling prices significantly and reduced and simplified its discount structure, in order to be responsive to distributors and enhance their ability and visibility to plan their business, and position the company to drive unit sales volume and earnings growth in calendar 2015 and beyond."
For 2015, Gildan projects consolidated net sales to top $2.65 billion. Printwear sales are expected to increase 12% compared to the company's calendar 2014, while sales revenues for branded apparel are expected to jump 23%. To help fuel growth this year, Gildan recently struck an agreement with country singer Blake Shelton, who will promote the brand.
4imprint Revenues Soar 25% in 2014
Hanesbrands Posts 15% Jump in Revenues, Celebrates 40 Years of the Beefy-T
For 2015, Hanesbrands expects net sales of approximately $5.775 billion to $5.825 billion. "Our guidance for 2015 translates into another year of double-digit EPS growth and what would be another record year for sales, profit and EPS, despite the challenges of currency exchange rates," said Noll.
Debco Wins Big at PPPC National Convention
Redwood Classics Wins Gold at Image Awards
Starline Receives Silver Award at PPPC Image Awards
alphabroder Releases Team 365 Collection
FIEL-Fairdeal Import & Export Offers In-House Screen Printing
Fashion Biz Launches 15 New Styles
Magnus Pen Installs Solar Power System
Bienne Extends 2014 Prices, Offers Free Ground Freight
BrandCharger Releases Mobile App
Facilisgroup Hosts 2014 TASA Presentation
Triton Sales & Marketing Celebrates 30 Years
Promogram Canada: What kinds of products and services did you first offer clients?
PC: What services do you currently offer?
PC: Generally, how has the industry changed over the past 30 years?
PC: How should business owners face inevitable challenges?
PC: What are key business strategies you put into practice each day?
PC: What is the most valuable lesson you've learned in the industry?
Victorinox Appoints New Representation
Vispak Welcomes TC Sports Marketing
Canada Sportswear Announces New Representation
Spector & Co. Hires New Account Manager
Chocolate Inn's Jovetic Elected to PPPC Board
ASI ROADSHOW – YOUR PROMOTIONAL PRODUCT RESOURCE FOR THE SPRING
The ASI Roadshow, traveling to Eastern and Western Canada this Spring, brings YOU together with the best suppliers to discover products that will grow your business. YOU rely on organizations like ASI Roadshow to produce live events to experience products in person, and we are committed to providing that service for you, year after year, without interruption.
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