We use first party and third-party Cookies to help us understand Website usage and to improve the content and offerings and to provide you advertising, analytics and other purposes related to your navigation habits. If you continue scrolling, we consider you accept the policy. You can read more about our cookie policy.


The global fashion business journal

Jan 23, 20203:47pm

Gildan sales drop 2% in third quarter, Mexican factories to shut down

The Canadian dropped it sales by 2% in the third quarter, to 740 million dollars. The company also announced it will move its production from Mexico to its facilities in Central America and the Caribbean. 

Nov 1, 2019 — 6:01pm
MDS
Save

Gildan sales drop 2% in third quarter, Mexican factories to shut down

 

 

Gildan on the low. The Canadian group, that reports in US dollars, ended its third quarter with a 2% drop sales, to 740 million dollars. The activewear company also stated that it will close the two textile and clothing factories that it has in Mexico before next April, Gildan has confirmed to The Canadian PressAbout 1,700 people work in the factories.

 

Gildan, which controls American Apparel since 2017, ended the third quarter with a profit of 104.9 million dollars, 8% less than in the same period last year. The company stated that its due to weaker demand and the foreseeable increase in the price of raw materials. 

 

Two weeks ago, the company presented a profit warning, anticipating a fall in its profit for the third and fourth quarter of 2019, which led to the group sinking 26% in the stock market. The Canadian company is listed on the Toronto Stock Exchange. 

Advertising
Comment
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...