Gildan Announces Stock Buyback

The Gildan announcement goes as follows from their press release this morning: “Gildan Activewear Announces Plan to Buy Back Shares Through Private Agreements Montreal, February 28, 2017 – Gildan Activewear Inc. (GIL: TSX and NYSE) announced today that it intends to purchase for cancellation up to 877,000 of its common shares pursuant to one or more private agreements between Gildan and an arm’s‐length third‐party seller.
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Gildan Announces 4th Qtr and 2016 Earnings

Gildan released 4th Qtr and full 2016 earnings and their forecasts for 2017. In their own words: Net sales growth of 8.1% in the fourth quarter GAAP diluted EPS and Adjusted diluted EPS of $0.32, both up 14% compared to Q4 2015 2017 Adjusted diluted EPS guidance of $1.60-$1.70, representing 9% growth over 2016 at midpoint of range Record free cash flow of $398 million
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Let’s Chat. A Unique Interface with Customers

Spin Ink Screen Printing has a unique approach to sales. If you get on their website, a chat window opens up. The four of them on the sales team take turns answering customer inquiries this way. Owner Jon Weizman said he was on a utility site with a chat function and got the idea to try it for his business Spin Ink in the Toronto,
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Sanmar and Alphabroder Working Together?

I have to say this is unprecedented. Alphabroder and Sanmar issued a joint statement today, I have never seen them cooperate on anything. Also unprecedented is their call for congressional action, I have not ever seen that from shirt distributors in the past 25 years. What they are calling for is for folks to fight a 20% import tax suggested by Republican in Congress. I’m
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Misprint Monday- Prints that Should Not Happen

I got interviewed by the Providence, RI TV station WPRI this week about counterfeiting Super Bowl merch. It does take the money out of the pockets of legitimate businesses involved, as well as the players and owners (not sure they need more money but…) http://wpri.com/2017/01/27/how-to-spot-counterfeit-sports-gear/ What I did not get into during the interview is the fact that the NFL only gives a few licenses
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American Apparel Bankruptcy Sale to Gildan is Approved

WWD and other sources are reporting that yesterday January 12, 2017 the bankruptcy judge in the American Apparel case approved the sale of most of the assets (including the Brand) to Gildan. The entire sale to Gildan was 103 million dollars of which $15 million was for the purchase of inventory. Gildan was the highest bidder at the auction held earlier this week, their original
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Gildan is High Bidder for American Apparel

Reuters News Agency is reporting that Gildan has made the high bid for American Apparel’s assets at $88 Million. This is unofficial as as the proceeding are supposed to be confidential and also any bid is subject to final approval by a bankruptcy judge on Thursday of this week. If true then they apparently outbid Next Level Apparel, Amazon, and possibly other last minute bidders. They also
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What the Hell is PPAI and Should I Attend? Should I Exhibit?

What the hell is PPAI? PPAI is a shorthand way of people saying the Promotional Products Association International Expo. The PPAI Expo is always in early January in Las Vegas and the exhibit hall opens tomorrow January 10th and runs through Thursday January 12th. It is acres and acres of plastic crap. It is crazy stuff like baseball bats, BBQ grills, mousepads, pencils made from
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