Gildan Net Sales Rise to $1.58 Billion in Second Quarter
The apparel manufacturer reported net sales of $1.58 billion for the three months ended June 28, 2026, compared to $918.5 million in the prior-year period.
Gildan Activewear Inc. (GIL), a vertically integrated manufacturer of activewear, socks, and underwear, reported net sales of $1.58 billion for the three months ended June 28, 2026,. This represents an increase from the $918.5 million in net sales recorded for the three months ended June 29, 2025.
Operating income for the second quarter fell to $175.9 million from $199.5 million in the same period last year. The company reported that selling, general and administrative expenses rose to $193.8 million from $81.7 million. Additionally, restructuring and acquisition-related costs increased to $90.0 million from $8.1 million.
For the six months ended June 28, 2026, net sales reached $2.75 billion, compared to $1.63 billion for the six months ended June 29, 2025. Six-month operating income declined to $174.6 million from $329.1 million. The company reported that six-month financial expenses, net, rose to $136.0 million from $61.9 million.
As of June 28, 2026, the company held $268.3 million in cash and cash equivalents, down from $284.5 million on December 28, 2025. Trade accounts receivable rose to $1.08 billion from $955.7 million during the same period. Inventories decreased to $2.17 billion from $2.37 billion.
Total liabilities stood at $6.72 billion as of June 28, 2026, compared to $6.90 billion at the end of 2025. The current portion of long-term debt rose to $945.2 million from $450.0 million, while long-term debt decreased to $3.59 billion from $3.86 billion.
Total equity attributable to shareholders was $3.34 billion at the end of the second quarter, compared to $3.56 billion on December 28, 2025. The company reported that retained earnings fell to $902.4 million from $1.17 billion.