FEBRUARY 26, 2026 – Gildan Activewear Inc. (GIL: TSX and NYSE) announced its fourth quarter and full year results, and initiated annual guidance for 2026. On December 1, 2025, the Company completed the acquisition of HanesBrands Inc. brbr
“2025 was another important year for Gildan with several highlights including record revenue from continuing operations of $3,619 million, adjusted operating margin¹ of 21.5%, adjusted diluted EPS¹ growth of 17.0% versus last year, and the closing of the HanesBrands acquisition on December 1. Our results underscore the impressive execution by our global team whose focus is now on fully capturing the value of our expanded platform. As we look ahead to 2026, we are very excited about the HanesBrands acquisition which doubles our scale, combines iconic brands with our world-class, low-cost, vertically integrated platform, and unlocks a powerful engine for innovation and growth. The integration is well underway and we now expect to deliver higher than initially targeted run-rate cost synergies reaching approximately $250 million by the end of 2028 with approximately $100 million in 2026.” said Glenn J. Chamandy, President and CEO. brbr
Fourth Quarter Results: Gildan reported fourth-quarter net sales of $1.078 billion, up 31.3% year over year, largely driven by the addition of HanesBrands. Excluding that contribution, sales grew 4.9%. brbr
Activewear sales rose 10.3% to $788 million on stronger pricing, product mix, and distributor and national account demand, with continued momentum for brands like Comfort Colors, Champion, and ALLPRO. Innerwear sales surged 170.7% due to HanesBrands, despite softer overall market volumes, while international sales increased 5.1% year over year, also supported by the acquisition but tempered by weaker global demand. brbr
Full Year 2025 Results: Gildan reported full-year 2025 net sales of $3.62 billion, up 11% year over year. Excluding the HanesBrands contribution, sales rose 4% and would have been up about 4.7% without the 2024 exit of the Under Armour business. Activewear sales climbed 9% to $3.09 billion on stronger volumes, pricing and product mix, while Innerwear sales increased 21% largely due to the HanesBrands acquisition. International sales declined 5% amid softer global demand. brbr
Gross profit reached $1.13 billion and gross margin improved to 31.2%, supported by lower manufacturing and raw material costs and favourable pricing. Adjusted operating income rose to $779 million, with adjusted operating margin improving to 21.5%. SG&A expenses were largely flat year over year, though higher on an adjusted basis due to the addition of HanesBrands and variable compensation. brbr
Net financial expenses increased due to acquisition-related borrowing. GAAP diluted EPS from continuing operations was $2.57, while adjusted diluted EPS rose 17% to $3.51, reflecting stronger operating performance and a lower share count, though results excluding HanesBrands landed near the low end of guidance. brbr
HanesBrand Integration: Gildan says the HanesBrands integration is progressing ahead of plan, with a focus on unlocking scale and cost efficiencies. The company will close two Hanes textile facilities in early 2026 and shift production into its vertically integrated network to accelerate synergies. It is also temporarily reducing inventory, optimizing distribution capacity and standardizing IT and supply chain systems. brbr
Run-rate cost synergies are now expected to reach approximately $250 million over three years, up from the original $200 million target, including about $100 million annually in 2026 and 2027. One-time restructuring costs are expected to align roughly one-to-one with the anticipated savings. brbr
Announces Plans to build Bangladesh Phase2: Gildan plans to build a second textile facility at its Bangladesh complex over the next 18 months, with production expected to begin in late 2027. The expansion will stay within existing capex guidance and is designed to strengthen the company’s cost leadership in ring-spun yarn and innerwear, supporting future sales growth. brbr
New EVP Announcement: Following the HanesBrands acquisition, Gildan has introduced a new organizational structure, including leadership presence in Winston-Salem, North Carolina. Chuck Ward has been appointed EVP, Chief Commercial Officer, where he will oversee commercial strategy across the company’s retail and wholesale channels.