UPS and the Teamsters union representing 340,000 workers are in negotiations for a new contract. The Teamsters are demanding some better working conditions and some higher pay. The current contract expires July 31, 2023 and the union members have already overwhelmingly voted to authorize the Teamster leaders to call a strike if necessary. Our garment…
Gildan recently released their 3rd quarter financial report. My take-away for our industry is that they have record sales and substantial profits in activewear. They are not hurting from supply chain or inflation issues as one might have imagined. You can read the entire press release below. Gildan Press Release Gildan Activewear Reports Strong Results for…
SAATI has announced that they have bought most of the assets of Ikonics from Terawulf Inc. in a long anticipated sale, since apparently Terawulf just wanted to be publicly traded on the NASDAQ and had no interest in the Ikonics business. SAATI, based in Como, Italy and in the USA in SC bought Ikonics (based…
No one can deny that we have all been through a couple of very challenging years that reinforced how much we rely on one another. Impressions is recognizing the spirit of giving to community with the inaugural Impressions Community Service Awards, to be presented at Impressions Expo in Long Beach in late January. If you…
Aaron Feuerstein passed away at age 95 on November 4th. December 11, 1995 the factory Malden Mills in Lawrence, Massachusetts burned to the ground in one of the biggest fires in New England’s history. The owner Aaron Feuerstein instead of taking the $300,000,000 and closing down, paid his 3,000 workers for months and paid their…
Norm Hullinger, the former CEO of garment distributor Alphabroder, has joined BELLA+CANVAS as their Chief Operating Officer. Prior to his 9 years serving as CEO of Alphabroder, Hullinger was the company’s COO. Dan Pantano, the former president of Alphabroder, will step into the CEO role there. A BELLA+CANVAS press release notes that recent global expansion…
Our good friend Howard Levine of Alliance Graphics in Berkeley, California has written an obituary for our friend Mohamed Dadabhoy who died recently. Our hearts go out to our friends, Mohamed’s brothers of USA Bayside, and to his many friends in the business, and to his family and friends at home. Mohamed was always an…
Due to credible reports of forced labor involving the Uyghur and Kazakah ethnic groups in China’s Xinjiang Province there is a current ban on import of both raw cotton and goods containing cotton from the Xinjiang Province. The ban, known as a “withhold release order,” also applies to products processed or manufactured in third countries.…
Our friend and colleague Chris Caldwell passed away at age 55 on August 22nd after a long illness. He will be missed. His big smile will endure. Chris has worked at Gildan for a few years after a long career at Fruit of the Loom. Look for a longer obituary in a couple of weeks.…
You can see the state of Gildan in their most recent press release here. You also can listen a recording of their most recent investor’s call and see the powerpoint of the presentation here. It gives a picture, not so pretty, of their empire at the moment. Like most of us, they have taken extreme…
