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GIL $37.13

GIL target price
37.13
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Gildan Activewear Inc.
Type
Public company
Traded as TSX: GIL
NYSE: GIL
S&P/TSX 60 component
Industry Textile, Clothing
Founded 1984
Founder Glenn Chamandy, Greg Chamandy
Headquarters Montreal, Quebec, Canada
Key people
Glenn J. Chamandy (CEO), Rhodri J. Harries (CFO)
Revenue US$ 1.95 billion (FY 2015)
Operating income
US$ 327.2 million (FY 2015)
Net income
US$ 304.9 million (FY 2015)
Total assets US$ 2.83 billion (FY 2015)
Total equity US$ 2.19 billion (FY 2015)
Number of employees
42,000 (2015)
Website www.gildan.com

Gildan Activewear Inc. is a Canadian-American manufacturer of branded clothing, including undecorated blank activewear such as t-shirts, sport shirts and fleeces, which are subsequently decorated by screen printing companies with designs and logos. The company also supplies branded and private label athletic, casual and dress socks to retail companies in the United States including Gold Toe Brands, PowerSox, SilverToe, Auro, All Pro, and the Gildan brand. The company also manufactures and distributes Under Armour and New Balance brand socks. The company has approximately 42,000 employees worldwide, and owns and operates manufacturing facilities in Rio Nance, Honduras and the Caribbean.

Glenn and Greg Chamandy founded Gildan in 1984 with the acquisition of a knitting mill in Montreal, Quebec, Canada, to make fabric to supply the Harley Inc., the childrenswear business already owned by the family. It later expanded to sell t-shirts made of 100% cotton to wholesalers, which resold them to United States and Canadian screen-printers, to be decorated with designs and logos. By 1994, Harley was closed in order to focus on the expansion of what had become Gildan Activewear.

The combination of low wages and advanced technology has allowed Gildan to lower its price per shirt to below that of Chinese manufacturers.

Gildan opened its first offshoring sewing facility in Honduras, in 1997. The plant was vertically integrated and employed 1,200 workers. A year later, the company achieved an Initial public offering and was listed publicly on both the Toronto Stock Exchange and the NYSE MKT.

By 2001, Gildan was the leading distributor of 100% cotton T-shirts in the US as determined by the ACNielsen S.T.A.R.S. Report. The next year, the company opened a knitting, bleaching, dyeing, finishing and cutting facility in Rio Nance, Honduras.

Over the next few years, Gildan continued its expansion by opening sewing facilities in Nicaragua and the Dominican Republic and a distribution center in Charleston, South Carolina.

In 2010 the company invested $15m in Shahriyar Fabric Industries Limited in Bangladesh to support planned growth in Asia and Europe.

Gildan bought Gold Toe Moretz, a North Carolina-based sock manufacturer, in early 2011. Previously, Gildan had primarily focused on its activewear market share, and had started entering the retail channel with the acquisitions of two sock manufacturers. The Gold Toe acquisition doubled the company’s sock revenue.

In May 2012, Gildan again expanded with its purchase of 130-year old apparel maker Anvil Holdings, Inc., the parent company of Anvil Knitwear and producer of environmentally-friendly lines of sustainable, recycled and organic apparel.

Gildan bought a 30-second spot to air an advertisement during the third quarter of the 2013 Super Bowl. The ad was part of an overall $25 million marketing push created by DeVito/Verdi, which included broadcast, print, digital, event marketing, and public relations. Gildan started speaking to the media about its Super Bowl ad in early December 2012.

The company also sponsored the Gildan New Mexico Bowl, which was played December 15, 2012 in Albuquerque.

In 2014, Gildan Activewear acquired Doris Hosiery for $Can 110 million.

In 2016, Gildan Activewear announced its $55 million purchase of PEDS Legwear.

In 2017, Gildan Activewear purchased American clothing company, American Apparel for $88 million at auction. This deal did not include retail locations.

In the past decade, Gildan implemented sustainability initiatives to reduce or eliminate potentially negative effects its facilities might have on the environment. Facilities in Honduras and the Dominican Republic employ Biotop, a biological wastewater management system that uses gravity, microorganisms and sunlight to remove chemicals and dyes from wastewater. When treated by Biotop, the water is beneficial to nearby ecosystems and suitable for use in local agriculture.

Genesis, S.A. is a Haitian factory manufacturing T-shirts whose main customer is Gildan Activewear. It has been accused as the most serious offender in a campaign of retaliatory dismissals, targeted at the leaders of a new labor rights and union organizing effort in Port-au-Prince.

Genesis, S.A. is a Haitian factory manufacturing T-shirts and its only customer is Gildan Activewear. Genesis, S.A. has been the most serious offender in a multi-factory campaign of retaliatory dismissals, targeted at the leaders of a new labor rights and union organizing effort in Haiti’s capital, Port-au-Prince. Haitian apparel workers receive the lowest wages in the hemisphere and face some of the harshest working conditions anywhere in the global apparel industry.[7]

A report titled "Stealing from the Poor: Wage Theft in the Haitian Apparel Industry," highlights the fact that the "average wages are even lower at the new Caracol Industrial Park despite the fact that the project was heavily subsidized by the United States government with earthquake recovery aid as a means of providing Haitian workers with a path out of poverty." The best farmland was taken from farmers to give to the South Korean company, and wages have never been what they promised the workers.

In 1994 Gildan became the first wholesale activewear manufacturer to obtain the Oeko-tex standard 100 Certification. Oeko-Tex is a set of uniform safety standards within the textile industry; certification ensures that processes and final products have been tested for harmful substances and found to contain amounts lower than Oeko-Tex’s set limits.

Gildan has its own Social Compliance Program designed to enforce humane standards for working conditions and labor practices. Facilities, including those of external suppliers, are audited for compliance with Gildan’s internal Code of Conduct and adherence to standards of the Worldwide Responsible Accredited Production (WRAP).

Gildan was also the first basic activewear manufacturer to be accredited by the FLA. Audits are also performed to ensure compliance with standards of the Fair Labor Association (FLA).

Gildan established medical clinics in its manufacturing facilities that offer free care to employees – for work related accidents as well as non-work related preventative care, including basic prenatal doctor’s visits. Maclean's Magazine cites this as a factor in naming Gildan to its list of Canada’s 50 Best Corporate Citizens.

In 2010–2011, Gildan purchased 85% of non-yarn supplies locally in Central America and 76.5% in the Caribbean Basin.

The company launched “I Support...Charity” in 2010 in an effort to promote community involvement and employee participation in choosing the charities that received donations. According to a company press release, Gildan donated $200,000 to various charities as a part of the program in 2011.

Homeboy Industries, which provides employment and services for at-risk and formerly gang-affiliated youth, received a donation of $100,000 as a result of Gildan’s first “I Support... Charity” campaign.

In 2011, the second year of the “I Support” program, Gildan added a new feature called Gildan Good Cards. The cards can be redeemed for a $50 donation to any 501(c)(3) charity and are given to employees who nominate a charity. The Good Cards have the effect of dispersing the company’s philanthropic efforts; while only five nominated charities receive large donations, more than 90 charitable organizations benefitted from Good Card redemptions. The cards resulted in an extra $100,000 distributed among the 90+ additional philanthropies.

In 2017, in a commercial, Gildan, portrayed older men in tight white briefs, which urged younger men to not wear their dads underwear like that.

Blake Shelton was a spokesperson for the company.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-11-02 Future report Set alerts
Q2 2022 2022-08-04 0.86 0.86
Q1 2022 2022-05-04 0.76 0.76
Q4 2021 2022-02-23 0.76 0.76
Q3 2021 2021-11-04 0.80 0.80
Q2 2021 2021-08-05 0.68 0.68
Q1 2021 2021-05-05 0.48 0.48
Q4 2020 2021-02-25 0.45 0.45
Q3 2020 2020-10-29 0.00 0.00
Q2 2020 2020-07-30 -0.99 -1.26

Ratings

2016-07-07 Reiterated Rating TD Securities Buy $36.00
2016-07-07 Reiterated Rating Desjardins Buy
2016-07-06 Reiterated Rating Scotiabank Outperform $44.00
2016-05-07 Reiterated Rating TD Securities Buy $35.00 to $36.00
2016-05-06 Reiterated Rating Scotiabank Outperform $42.00 to $44.00
2016-05-06 Reiterated Rating National Bank Financial Outperform $42.00 to $43.00
2016-05-05 Reiterated Rating Credit Suisse Buy
2016-05-05 Boost Price Target RBC Capital Outperform $34.00 to $35.00
2016-05-05 Boost Price Target Stifel Nicolaus Buy $32.00 to $35.00
2016-05-05 Reiterated Rating Credit Suisse Group AG Buy
2016-05-05 Boost Price Target Royal Bank Of Canada Outperform $34.00 to $35.00
2016-04-26 Boost Price Target RBC Capital Outperform $32.00 to $34.00
2016-03-15 Reiterated Rating Credit Suisse Outperform $41.00
2016-03-14 Boost Price Target BMO Capital Markets Outperform $33.00
2016-03-14 Boost Price Target Canaccord Genuity Buy $32.00 to $33.00
2016-03-01 Reiterated Rating Scotiabank Outperform $45.00 to $42.00
2016-02-26 Reiterated Rating National Bank Financial Outperform $41.00
2016-02-25 Lower Price Target DA Davidson Neutral $29.00 to $28.00
2016-02-25 Reiterated Rating Canaccord Genuity Buy $35.00 to $32.00
2016-02-25 Lower Price Target Stifel Nicolaus Buy $36.00 to $32.00
2016-02-25 Lower Price Target RBC Capital Outperform $33.00 to $30.00
2016-02-11 Reiterated Rating Desjardins Buy $46.50 to $42.00
2016-01-29 Lower Price Target RBC Capital Outperform $34.00 to $33.00
2016-01-27 Reiterated Rating Canaccord Genuity Buy $35.00
2016-01-21 Lower Price Target Goldman Sachs $30.00 to $28.00
2016-01-21 Lower Price Target Goldman Sachs Group Inc. $30.00 to $28.00
2015-11-14 Reiterated Rating Desjardins Buy $46.50 to $44.00
2015-11-13 Lower Price Target RBC Capital Outperform $35.00 to $34.00
2015-11-09 Reiterated Rating Canaccord Genuity Buy $37.00
2015-10-26 Downgrade DA Davidson Buy to Neutral $38.00 to $31.00
2015-10-26 Reiterated Rating National Bank Financial Outperform $46.00
2015-10-16 Upgrade Credit Suisse Neutral to Outperform
2015-10-15 Initiated Coverage Brean Capital Hold
2015-08-04 Upgrade Desjardins Hold to Buy $45.00 to $46.50
2015-08-04 Downgrade Credit Suisse Outperform to Neutral $42.00 to $45.00
2015-07-28 Boost Price Target Scotiabank $45.00 to $47.00
2015-07-21 Reiterated Rating Canaccord Genuity Buy $37.00
2015-07-15 Downgrade Desjardins Buy to Hold
2015-06-16 Boost Price Target Desjardins Buy $43.00 to $44.00
2015-05-18 Reiterated Rating BMO Capital Markets Outperform $36.00 to $37.00
2015-05-17 Reiterated Rating Desjardins Buy $42.00 to $43.00
2015-05-15 Boost Price Target RBC Capital Outperform $33.50 to $35.00
2015-05-14 Reiterated Rating Canaccord Genuity Buy $37.00
2015-04-30 Set Price Target Canaccord Genuity Buy $35.00
2015-03-31 Reiterated Rating Canaccord Genuity Buy $31.00
2015-02-17 Set Price Target Canaccord Genuity Buy $30.50
2015-02-05 Boost Price Target Citigroup Inc. Neutral $33.50 to $37.50
2015-02-05 Reiterated Rating Canaccord Genuity Buy $30.50
2015-02-05 Downgrade TD Securities Buy
2015-02-05 Reiterated Rating DA Davidson Buy $35.00
2014-12-05 Reiterated Janney Neutral $54 to $48
2014-12-05 Upgrade National Bank Financial Action Buy List
2014-12-05 Upgrade Canaccord Genuity Focus List
2014-12-05 Upgrade Raymond James Outperform to Strong-Buy
2014-12-05 Lower Price Target Janney Montgomery Scott Neutral $27.00 to $24.00
2014-12-05 Lower Price Target RBC Capital Outperform $34.50 to $30.50
2014-12-05 Upgrade Raymond James Financial Inc. Outperform to Strong-Buy
2014-12-04 Downgrade GMP Securities Buy to Hold
2014-11-04 Reiterated Rating Citigroup Inc. Neutral $33.00 to $34.50
2014-08-05 Lower Price Target Desjardins Buy C$38.00 to C$37.00
2014-08-01 Reiterated Rating Janney Montgomery Scott Fair Value $26.00 to $27.00
2014-08-01 Boost Price Target CIBC $31.00 to $33.50
2014-08-01 Boost Price Target National Bank Financial Outperform C$35.00 to C$36.00
2014-08-01 Upgrade DA Davidson Neutral to Buy $30.50 to $34.00
2014-08-01 Upgrade Bank of America Neutral to Buy
2014-08-01 Upgrade Stifel Nicolaus Hold to Buy $36.00
2014-08-01 Boost Price Target Canaccord Genuity Buy $33.00 to $34.00
2014-08-01 Upgrade Bank of America Corp. Neutral to Buy
2014-07-25 Upgrade RBC Capital Sector Perform to Outperform
2014-07-16 Boost Price Target CSFB Outperform C$35.00 to C$37.50
2014-07-04 Boost Price Target TD Securities Action List Buy C$34.00 to C$35.50
2014-06-20 Boost Price Target DA Davidson Buy to Buy $32.00 to $34.00
2014-06-20 Boost Price Target BMO Capital Markets Outperform $32.50 to $34.00
2014-06-20 Boost Price Target Raymond James Outperform $32.50 to $35.00
2014-06-20 Boost Price Target RBC Capital Sector Perform $30.00 to $30.50
2014-06-20 Boost Price Target TD Securities Buy C$33.00 to C$34.00
2014-06-20 Boost Price Target Scotiabank Focus Stock C$35.50 to C$36.50
2014-06-20 Initiated Coverage Credit Suisse Buy $32.00 to $34.00
2014-06-20 Boost Price Target Canaccord Genuity Buy $32.00 to $33.00
2014-05-19 Reiterated Rating Citigroup Inc. Hold $29.50 to $31.50
2014-05-06 Initiated Coverage CSFB Outperform C$35.00
2014-05-06 Initiated Coverage Credit Suisse Outperform $35.00
2014-05-05 Boost Price Target Buckingham Research $31.00 to $32.00
2014-05-05 Boost Price Target RBC Capital $27.50 to $30.00
2014-05-05 Boost Price Target BMO Capital Markets Outperform $31.00 to $32.50
2014-05-05 Boost Price Target National Bank Financial C$33.50 to C$34.50
2014-05-05 Boost Price Target Desjardins Buy C$33.25 to C$37.50
2014-05-05 Boost Price Target TD Securities Action List Buy C$31.00 to C$33.00
2014-05-05 Boost Price Target Scotiabank Focus Stock C$35.00 to C$35.50
2014-05-05 Boost Price Target DA Davidson Buy $30.00 to $32.00
2014-04-09 Upgrade Berenberg Bank Buy
2014-02-06 Reiterated Rating Scotiabank Sector Perform
2014-02-06 Boost Price Target BMO Capital Markets Outperform C$28.00 to C$31.00
2014-02-06 Boost Price Target Canaccord Genuity $28.50 to $30.00
2014-01-28 Boost Price Target Desjardins Buy C$32.00 to C$33.25
2014-01-24 Boost Price Target National Bank Financial Outperform C$29.50 to C$33.50
2014-01-21 Boost Price Target Scotiabank Focus Stock C$30.00 to C$35.00
2014-01-08 Boost Price Target TD Securities Action List Buy C$27.50 to C$31.00
2013-12-09 Upgrade DA Davidson Neutral to Buy $26.00 to $30.00
2013-12-06 Upgrade CIBC Sector Outperform
2013-12-06 Boost Price Target BMO Capital Markets Outperform C$26.50 to C$28.00
2013-12-06 Upgrade GMP Securities Buy
2013-11-22 Boost Price Target Stonecap Securities Outperform C$28.50 to C$32.50
2013-11-22 Lower Price Target BMO Capital Markets $27.00 to $26.50
2013-11-22 Boost Price Target TD Securities Action List Buy $27.00 to $27.50
2013-11-22 Boost Price Target CIBC $25.50 to $26.50
2013-11-15 Boost Price Target Raymond James Outperform $27.50
2013-10-29 Boost Price Target Equinet Institutional Services Accumulate €11.00 to €13.00
2013-10-21 Boost Price Target Berenberg Bank Hold €7.50 to €12.50
2009-12-11 Reiterated Credit Suisse Neutral $14 to $20
2009-12-02 Upgrade Thomas Weisel Underweight to Market Weight $12 to $17
2009-06-03 Initiated Thomas Weisel Underweight $12
2009-05-19 Upgrade UBS Neutral to Buy
2009-02-12 Downgrade BB&T Capital Mkts Hold to Underweight
2008-12-12 Reiterated RBC Capital Mkts Outperform $26 to $15
2008-10-20 Upgrade Raymond James Outperform to Strong Buy
2016-07-07 Reiterated Rating TD Securities Buy $36.00
2016-07-07 Reiterated Rating Desjardins Buy
2016-07-06 Reiterated Rating Scotiabank Outperform $44.00
2016-05-07 Reiterated Rating TD Securities Buy $35.00 to $36.00
2016-05-06 Reiterated Rating Scotiabank Outperform $42.00 to $44.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks