Short interest for Gildan Activewear gives investors a sense of the degree to which investors are betting on the decline of Gildan Activewear's stock. Short interest data is updated every two weeks.

Gildan Activewear Stock (NYSE:GIL), Short Interest Report

Gildan Activewear

Gildan is a vertically integrated designer and manufacturer of basic apparel, including T-shirts, underwear, socks, and hosiery. Its primary market is the sale of blank T-shirts, sweatshirts, and other apparel to wholesalers, major clothing brands, and printers (printwear). Gildan also sells branded clothing through retail and direct-to-consumer channels. Brands include Gildan, American Apparel, Comfort Colors, and Gold Toe. Gildan produces most of its clothing at factories in Latin America and recently began operating a new plant in Bangladesh. Incorporated in 1984, the Montreal-based company operates internationally but generates nearly 90% of its sales in the US.

GIL, Gildan Activewear

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Gildan Activewear beats Q4 earnings estimates with a 9% revenue increase and raises dividend by 10%, expects flat to low-single-digit revenue growth for FY24.

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Financing

Gildan Announces a C$200M Private Placement Financing with CDPQ

Canaccord Genuity analyst Luke Hannan maintains Gildan Activewear (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIL#NYSE">GIL</a>) with a Buy and raises the price target from $42 to $43.

Price Target

Analyst Ratings

Canaccord Genuity Maintains Buy on Gildan Activewear, Raises Price Target to $43

Gildan Activewear Reconfirms FY24 Adj. EPS $2.92-$3.07 Vs $2.96 Est.

Gildan Activewear (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIL#NYSE">GIL</a>) reported quarterly earnings of $0.59 per share which beat the analyst consensus estimate of $0.51 by 15.69 percent. This is a 31.11 percent increase over earnings of $0.45 per share from the same period last year. The company reported quarterly sales of $695.800 million which beat the analyst consensus estimate of $693.384 million by 0.35 percent. This is a 1.01 percent decrease over sales of $702.900 million the same period last year.

Earnings Beats

Gildan Activewear Q1 2024 Adj EPS $0.59 Beats $0.51 Estimate, Sales $695.800M Beat $693.384M Estimate

Browning West Comments On Gildan Activewear's Board Refreshment; Urges Support For Its Independent Director Candidates

Management

Gildan Activewear Announced; Board Refreshment; On May 1, 2024 Will Appoint Tim Hodgson As Independent / Non-Executive Chair

Gildan Board Said There Continues To Be External Interest In Acquiring The Company And The Process Is Ongoing

Vince Tyra's Attempt to Copy Former CEO Glenn Chamandy's Strategy is Fraught with Risk Due to Mr. Tyra's Track Record of Value Destruction
Mr. Tyra Unveils Underwhelming Margin Guidance, Speculative Spending, Weak Capital Allocation, and No Long-Term Earnings Per Share or Stock Price Targets
Browning West Urges Shareholders to Support its Slate of Eight Highly Qualified Directors and Strategy for Superior Value Creation
Browning West, LP (together with its affiliates, "Browning West" or "we"), which is a long-term shareholder of Gildan Activewear Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIL#NYSE">GIL</a>) (TSX:<a class="ticker" href="https://www.benzinga.com/stock/GIL#TSX">GIL</a>) ("Gildan" or the "Company") and beneficially owns approximately 5.0% of the Company's outstanding shares, today issued the following statement regarding the Company's April 15th investor update.
As a reminder, Browning West is seeking to elect eight highly qualified and independent director candidates to Gildan's Board of Directors (the "Board") at the Annual Meeting of Shareholders on May 28, 2024. Browning West's director candidates possess strong track records of value creation, expertise in successful succession planning, relevant industry and governance experience, as well as proven management and board service pedigrees in Canada and the U.S.
"Browning West believes that Vince Tyra's ‘new plan' raises troubling questions about the current Board's stewardship of the Company and confirms our fears that Mr. Tyra may lead Gildan down a similar destructive path as the ones he did at the helm of Fruit of the Loom Inc. and Broder Brothers Co.
Our key questions are outlined below:
<ol>
<li>Why Should Shareholders Allow Mr. Tyra, an Executive With a Record of Failure, to Pursue the Same Strategy as Glenn Chamandy, Who Has a Long Record of Success? Mr. Tyra's ‘plan' is clearly nothing more than a continuation of the Gildan Sustainable Growth ("GSG") strategy, which Mr. Chamandy launched in 2022. In fact, the GSG strategy was positively referenced 14 times across Mr. Tyra's presentation materials and his own statements. We appreciate that the Board is finally reversing its prior, baffling criticism of Mr. Chamandy's growth strategy and acknowledging that he established the best strategy and foundation for the Company. But why should shareholders allow a proven value-destroyer like Mr. Tyra to attempt to deliver this strategy when proven value creator Mr. Chamandy is available and excited to execute the plan he designed? &nbsp;</li>
<li>Why is Mr. Tyra Giving Himself Room to Reduce Margins When the Company Has Margin Tailwinds? Mr. Tyra gives himself room to reduce operating margins by 200 basis points from the current 20% level he inherited from Mr. Chamandy, whereas the Browning West slate's plan seeks to increase operating margins by over 200 basis points from current levels. This is highly concerning because while our plan reflects the opportunity to improve margins by shifting to higher-margin products and lower-cost production facilities in Bangladesh, Mr. Tyra's plan does not appear to capitalize on these opportunities. However, we are not surprised to see underwhelming margin guidance from Mr. Tyra because we observe significant margin degradation in his track record at both Fruit of the Loom and Broder Bros. &nbsp;</li>
<li>Why is Mr. Tyra Proposing to Spend Shareholder Funds on Speculative Investments Like Branding and International Expansion? Mr. Tyra's plan contemplates speculative investments in brand building and international expansion. We are alarmed to hear Mr. Tyra referring to ‘brand' 39 times across his presentation materials and statements. Sadly, Mr. Tyra appears to be introducing to Gildan the same failed branding strategies that doomed his prior employer, Fruit of the Loom. Mr. Tyra's plan also includes a vague strategy to invest in Gildan's international business, an area where Mr. Tyra has no previous experience. In contrast, the Browning West slate's plan calls for a disciplined focus on the few key initiatives that will deliver outsized returns for shareholders with minimal risk. &nbsp;</li>
<li>Why are the Board and Mr. Tyra Persisting with Their Vague and Timid Capital Allocation Policy? We believe that in recent years the Board's vague and timid capital allocation policy has degraded Gildan's earnings per share growth and valuation multiple. Mr. Tyra's plan continues this policy as it does not call for any increased levels of share repurchases despite the Company's current low valuation and low leverage. It also alludes to potential acquisitions with no framework for what would qualify as an acquisition target. We remind shareholders of the dangers of allowing Mr. Tyra to undertake any acquisitions given that he destroyed tremendous value at Broder Bros. with an acquisition-based strategy. In contrast to the current Board's weak capital allocation policy, the Browning West slate's plan is specific and clear, calling for leverage and buyback targets that would supercharge returns by reducing outstanding shares by 36% over five years while also growing the dividend at a 9% annual rate. &nbsp;</li>
<li>Why do the Board and Mr. Tyra Fail to Outline Specific Long-Term EPS and Stock Price Targets? Mr. Tyra fails to outline any specific medium- or long-term earnings per share and stock price targets. In fact, Mr. Tyra's plan includes lower sales growth, lower operating margins, higher capital intensity, and weaker capital allocation relative to the Browning West slate's plan. This obviously suggests far lower long-term potential returns than our plan. We believe that Mr. Tyra is avoiding any specific long-term targets because he lacks relevant experience in low-cost manufacturing and vertical integration, and he does not want to be held accountable by shareholders. In contrast, the Browning West slate's plan provides a clear pathway to at least a $60 USD share price by the end of 2025 and a $100 USD share price over the next five years."</li>
</ol>
Shareholders are encouraged to visit <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.SuperchargeGildan.com&amp;esheet=53933118&amp;newsitemid=20240416294511&amp;lan=en-US&amp;anchor=www.SuperchargeGildan.com&amp;index=1&amp;md5=844b9794d42ad9d93169a9090114ba8e">www.SuperchargeGildan.com</a>to download a copy of the slate's <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fsuperchargegildan.s3.us-west-1.amazonaws.com%2FSupercharge-Gildan-Operating-Plan-%2528April%2B2024%2529.pdf&amp;esheet=53933118&amp;newsitemid=20240416294511&amp;lan=en-US&amp;anchor=operating+plan&amp;index=2&amp;md5=80f7da3d60b2b8383e889116ee47ce69">operating plan</a>, learn how to vote for Browning West's slate of highly qualified director candidates, and sign up for important campaign updates. Visit SEDAR+ (<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sedarplus.ca&amp;esheet=53933118&amp;newsitemid=20240416294511&amp;lan=en-US&amp;anchor=www.sedarplus.ca&amp;index=3&amp;md5=da39364f368918cfed4483ce288ecf1c">www.sedarplus.ca</a>) to review a copy of Browning West's information circular and other relevant materials.

TSX:GIL

Browning West Cautions Shareholders Regarding Gildan Activewear's Risky Path Forward Under CEO Vince Tyra; Browning West Is Seeking To Elect Eight Highly Qualified And Independent Director Candidates To Gildan's Board Of Directors At The Annual Meeting Of Shareholders On May 28, 2024

Gildan Activewear Sees Prelim. Q1 Net Sales Approximately $695M vs $677.45M Est.; Co. Reconfirms 2024 Guidance

RBC Capital analyst Tom Callaghan assumes Gildan Activewear (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIL#NYSE">GIL</a>) with a Outperform rating and announces Price Target of $41.

Initiation

RBC Capital Assumes Gildan Activewear at Outperform, Announces Price Target of $41

<a href="https://www.bloomberg.com/news/articles/2024-04-04/a-fired-ceo-rebel-investor-and-m-a-talk-fuel-battle-over-gildan-s-future?utm_campaign=socialflow-organic&amp;cmpid=socialflow-twitter-business&amp;utm_source=twitter&amp;utm_content=business&amp;utm_medium=social" title="https://www.bloomberg.com/news/articles/2024-04-04/a-fired-ceo-rebel-investor-and-m-a-talk-fuel-battle-over-gildan-s-future?utm_campaign=socialflow-organic&amp;cmpid=socialflow-twitter-business&amp;utm_source=twitter&amp;utm_content=business&amp;utm_medium=social">https://www.bloomberg.com/news/articles/2024-04-04/a-fired-ceo-rebel-investor-and-m-a-talk-fuel-battle-over-gildan-s-future?utm_campaign=socialflow-organic&amp;cmpid=socialflow-twitter-business&amp;utm_source=twitter&amp;utm_content=business&amp;utm_medium=social</a>

'Fired CEO, Rebel Investor and M&A Talks Fuel Battle Over Gildan's Future' -Bloomberg

Hanesbrands Shares Move Higher On Volume; Traders Circulate Bloomberg Report Saying Gildan Looking To Acquire Co

<a href="https://www.theglobeandmail.com/business/article-gildan-sets-april-10-deadline-for-initial-takeover-offers/?utm_source=dlvr.it&amp;utm_medium=twitter" title="https://www.theglobeandmail.com/business/article-gildan-sets-april-10-deadline-for-initial-takeover-offers/?utm_source=dlvr.it&amp;utm_medium=twitter">https://www.theglobeandmail.com/business/article-gildan-sets-april-10-deadline-for-initial-takeover-offers/?utm_source=dlvr.it&amp;utm_medium=twitter</a>

'Gildan sets April 10 deadline for initial takeover offers' -The Globe And Mail

Gildan Activewear Shares Resumes

Gildan Spokesperson Says Board Formed A Special Committee Of Independent Directors To, Review, Consider Merits Of Proposal, Any Alternative Transaction

Gildan Spokesperson Says Several Of These Counterparties Expressed An Interest In Considering A Potential Friendly Transaction With Gildan

Gildan Spokesperson Says Special Committee Conducted Targeted Outreach To A Small Number Of Reputable Potential Counterparties

Gildan Activewear Spokesperson Says In Best Interests Of Gildan To Contact Other Potential Bidders With A View To Maximizing The Value Of Any Potential Transaction

<a href="https://www.europapress.es/galicia/noticia-alcoa-inicia-contactos-potenciales-compradores-san-cibrao-propone-modificar-acuerdo-viabilidad-20240319140345.html?utm_campaign=smartclip_social&amp;utm_medium=Social&amp;utm_source=Twitter">https://www.europapress.es/galicia/noticia-alcoa-inicia-contactos-potenciales-compradores-san-cibrao-propone-modificar-acuerdo-viabilidad-20240319140345.html?utm_campaign=smartclip_social&amp;utm_medium=Social&amp;utm_source=Twitter</a>
&nbsp;

Gildan Activewear Shares Halted, News Pending

WIIM

Gildan Activewear, Inc. shares are trading higher following a Globe and Mail report suggesting the board has put the company up for sale.

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Desjardins analyst Chris Li CFA maintained a Buy rating on Gildan Activewear (GIL – Research Report) today and set a price target of C$55.00. Chris...

Gildan Activewear: A Strong Buy Amidst Growth and Market Share Expansion

In a report released today, Martin Landry from Stifel Nicolaus maintained a Hold rating on Gildan Activewear (GIL – Research Report), with a price ...

Stifel Nicolaus Reaffirms Their Hold Rating on Gildan Activewear (GIL)

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Analysts Offer Insights on Consumer Cyclical Companies: MGM Resorts (MGM), Ford Motor (F) and Gildan Activewear (GIL)

In a report released today, Mark Petrie from CIBC maintained a Buy rating on Gildan Activewear (GIL – Research Report), with a price target of $41....

CIBC Remains a Buy on Gildan Activewear (GIL)

Gildan announces C$200M private placement financing with CDPQ

Gildan Activewear (TSE:GIL) has released an update. Gildan Activewear Inc. has announced a CAD$200 million financing deal through senior unsecured ...

Gildan Activewear Secures C$200M in Financing

Gildan Secures CAD$200M Investment from CDPQ

Gildan Activewear (TSE:GIL) has released an update. Gildan Activewear has released an investor presentation ahead of its 2024 Annual Meeting, endor...

Gildan Activewear Unveils Future Strategy and Leadership

Gildan Activewear (TSE:GIL) has released an update. Gildan Activewear Inc. has released an investor presentation in advance of its 2024 Annual Meet...

Gildan Activewear Confident in Strategic Growth Plan

Press Releases

Browning West Cautions Shareholders Regarding Gildan Activewear's Risky Path Forward Under CEO Vince Tyra

Gildan Activewear Announces Date for First Quarter 2024 Earnings Release

Gildan Activewear Announces Board Refreshment to Support CEO Vince Tyra and Gildan's Next Phase of Sustainable Growth

Browning West and Glenn Chamandy Comment on Gildan Activewear's Defensive and Reactionary Board Refreshment

Gildan Activewear Files Proxy Circular and Board of Directors Issues Letter to Shareholders

Browning West Files Proxy Circular and Sends Letter to Gildan Activewear Shareholders Regarding the Opportunity to Upgrade Leadership and Supercharge Returns

Gildan Activewear Reports Results for the First Quarter of 2024

Gildan Announces a C$200 Million Private Placement Financing with CDPQ

Gildan Activewear Publishes Investor Presentation for 2024 Annual Meeting

Browning West Releases Presentation Detailing Why Voting FOR All Eight of Browning West's Nominees Is the Superior Path Forward for Gildan Activewear Shareholders