Gildan’s Financials

The Gildan financial report on the year 2017, 4th quarter 2017, and the outlook for 2018 are available for your perusal here.

A few take-aways from a quick look see:

– They made a boatload of money. Gross sales of $2,750.8 million and generated free cash flow of $519 million. That’s a whole lot of G2000’s.

– They leave the door open for more acquisitions with all that cash. Our industry isn’t all that rosy in ever corner, so bargains to buy will probably be out there and they will usually be the only ones  with the cash to do it. Since all the other purchases they have made (Alstyle, American Apparel, Comfort Colors) seem to have worked out, one could guess there could be more of the same.

– Sales increased 11.2% in the fourth quarter last year, up 27% in the Printwear division.

– They will continue to merge divisions and management of Printwear and Branded Apparel divisions, which fits the historical Gildan strength of lean corporate structure.

– They expect American Apparel sales to double this year. I guess they think that purchase is working out for them.

– They had some increased costs due to labor issues related to unrest caused by Honduran elections. They control lots of elements of production, but I bet that one gives them nightmares. I’m glad my business doesn’t depend on political stability in Honduras.


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