April 29, 2025 – Gildan Activewear Inc. reported first-quarter 2025 results showing steady growth and resilience in a challenging macroeconomic landscape. Net sales rose 2.3% year-over-year to $712 million, with strong 9% growth in Activewear sales helping offset declines in the Hosiery and Underwear segment due to the planned Under Armour phase-out. brbr
Key Q1 highlights include: brbr
- Operating margin of 18.2% (adjusted: 19.0%) brbr
- GAAP diluted EPS of $0.56 (adjusted: $0.59) brbr
- $62 million returned to shareholders via share buybacks brbr
Gildan reaffirmed its full-year 2025 guidance, projecting: brbr
- Mid-single digit revenue growth brbr
- Adjusted operating margin expansion of ~50 bps brbr
- Adjusted EPS between $3.38 and $3.58 brbr
- Free cash flow over $450 million brbr
The company noted continued market share gains, positive response to product innovations such as Soft Cotton Technology, and momentum among North American distributors and national accounts. brbr
Internationally, sales declined 2.5%, with growth in Europe offset by softness in LATAM and Asia. Despite increased borrowing costs and higher tax rates due to Global Minimum Tax legislation, Gildan’s vertically integrated model and operational discipline continue to support profitability and agility. brbr
On the ESG front, Gildan was recognized in S&P’s 2025 Sustainability Yearbook and CDP’s Leadership band for climate disclosure, marking consistent recognition of the company’s environmental leadership. brbr
For Q2 2025, Gildan expects mid-single-digit sales growth and continued margin strength, supported by cost efficiencies and strategic innovation.
To read the full press release, please click here