Here are the current highlights (and lowlights) of the biggest company serving our industries, Gildan.

The company formerly headquartered in Montreal, Canada and now located in tax-friendly and sunny Barbados reports the following:

• Payless going bankrupt cost them a pretty penny: $2.5 million.
• Heritage Sportswear going bankrupt cost them more than a pretty penny:  $21.7 Million. They refer to losses in the bankruptcy as “related to the wind down of the Heritage Sportswear operations .”
• They are building a huge textile facility in Bangladesh to open in a couple years to serve International markets and “support other key sales growth drivers.”  The land purchase alone was $45million and the factory complex will be sized to accommodate approximately $500 million in sales.
• They are selling more fleece than expected.

The entire press release for those so inclined to read the gory details as reported.

Click to access Q1-2019-Earnings-Press-Release.pdf