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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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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Gildan to Buy American Apparel?

Time to clarify some things about the bankruptcy of American Apparel and the potential purchase by Gildan. Reports in many media outlets that Gildan has bought American Apparel are false, or at least not entirely accurate. They have bid on certain assets but you would not say that it is a done deal. 2. American Apparel retail stores will close. This apparently is true, as Gildan has
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Misprint Monday: End of an Era, American Apparel To Be Sold (sort of)

American Apparel filed for Chapter 11 Bankruptcy protection yesterday and at the same time Gildan has put in a bid for the brand name. To be exact Gildan says, “an asset purchase agreement (APA) to acquire the worldwide intellectual property rights related to the American Apparel® brand and certain assets from American Apparel, LLC, (American Apparel), a U.S.-based manufacturer of fashion basics, for a cash
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Gildan to Acquire Peds

Gildan just announced purchase of socks company Peds for $55 million (American not Canadian dollars…) This comes on the heels of their acquisitions in the past few years of Anvil, Comfort Colors, New Buffalo Shirt Company, and most recently Alstyle Apparel. Peds was in the news recently for “reshoring” some of their knitting. They brought some manufacturing back from overseas to North Carolina by keeping
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Soft Shirts in Soft ColorsSome: Comfort Colors, SanMar, and Hanes Coastal Colors

At ISS Long Beach in January Tom and I did some seminars in the SanMar classroom on printing on Garment Dyed shirts. A few of our words of advice: use good platen adhesive to promote good registration, and re-apply more often than usual. At my shop we mostly use Albatross Brush Tac and then some Albatross spray when necessary. test your garment for whether it will discharge, which
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Gildan Buys Comfort Colors!

Holy Cow, Vermont company Comfort Color is now part of the Gildan empire. Entrepreneur and genuine character Barry Chouinard (owner of Comfort Colors) should be able to buy a little more apple cider this week after selling his company for $100 million to industry giant Gildan. Reported as well was that Gildan lost over $40 million on the last quarter of 2014. If you buy
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