Canada’s Gildan Activewear’s Q1 revenue surges 64% on HanesBrands deal

Gildan Activewear Inc, a Canadian apparel manufacturer, posted record first-quarter net sales of $1.17 billion, rising 63.8 per cent YoY, driven by the full consolidation of HanesBrands.
Despite the revenue jump, Gildan reported a net loss of $55.1 million from continuing operations and an operating margin of negative 0.1 per cent.
Adjusted operating margin reached 14.3 per cent.