Gildan Activewear has announced results for the fourth quarter and year ended 2^nd January 2022 and provided its three-year financial outlook. Fourth Quarter (Q4) sales were $784 million, up 14% versus Q4 2020 and 19% versus Q4 2019. Full year (FY) 2021 sales were $2.9 billion, up 48% versus FY 2020 and 3.5% versus FY 2019.

Gildan’s Q4 and FY 2021 operating margins were 22.6% and 22.3% respectively, and Q4 and FY 2021 adjusted operating margins were 20.4% and 20.2%. The company’s Sustainable Growth strategy outlook reflects 3-Year net sales CAGR in the range of 7%-10% and annual operating margins in the 18%-20% range.

Meanwhile Gildan has been recognized in Corporate Knights 2022 World's 100 Most Sustainable Corporations.

“I am extremely proud of our team’s performance in 2021 which allowed us to capitalize on improving demand and deliver meaningful benefits from our Back-to-Basics strategy. We ended the year with a strong finish, growing above pre-pandemic levels and setting record results to build on,” said Glenn J. Chamandy, President and CEO of Gildan.

"As we look to 2022 and beyond, we are building on our Back-to-Basics principles and heightening our focus towards the next phase of our journey with our ‘Gildan Sustainable Growth’ plan centred on three key pillars — Enabling growth through Capacity Expansion, Innovation and ESG. By leveraging our competitive advantage as a low-cost vertically- integrated manufacturer and executing on projected capacity expansion plans, delivering superior quality, value-driven and innovative products to our customers, and leveraging our strong ESG standing, we are confident that we can drive strong organic revenue growth, profitability and effective asset utilization to deliver strong shareholder value and make meaningful advancements on our ESG priorities.”

With approximately 46,000 employees worldwide, Gildan is a leading manufacturer of everyday basic apparel which markets its products in North America, Europe, Asia-Pacific and Latin America under a diversified portfolio of company-owned brands. It owns and operates vertically integrated, large-scale manufacturing facilities which are primarily located in Central America, the Caribbean, North America and Bangladesh.

www.gildancorp.com