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Gildan Announces Second Quarter Results
Gildan Activewear Inc. (GIL; TSX and NYSE) reported net earnings of $7.1 million and diluted EPS of $0.06 (all figure U.S.) for its second fiscal quarter ended April 5, 2009. This was compared with net earnings of $42.1 million and diluted EPS of $0.35 in the second quarter of fiscal 2008. The reduction in net earnings and EPS was primarily due to significantly lower unit sales volumes, as a result of weak end-use demand and the timing of wholesale distributor replenishment, and significantly lower gross margins as a result of the consumption of higher-cost inventories produced in previous quarters and unfavourable product-mix. Gross margins in the second quarter were 15.8 per cent, compared to 28.8 per cent after recasting prior year comparatives to reflect the reclassification of manufacturing depreciation and certain items from selling, general and administrative expenses to cost of sales. Gross margins are projected to improve in the third and fourth quarters, compared to the second quarter due to more favourable manufacturing and raw material costs and more favourable product-mix. Net sales in the second quarter of fiscal 2009 amounted to $244.8 million, down 16.7 per cent from the second quarter of last year, due primarily to a 21.9 per cent decline in activewear sales including a 13.9 per cent decrease in unit shipments of activewearear. Net sales for the six months ended April 5, 2009 were $428.8 million, down 21.2 per cent compared to the same period last year. The decrease in net sales was due to a 20.9 pr cent decline in activewear unit volumes, unfavourable activewear product mix, a $14.0 million decrease in sock sales due to the elimination of unprofitable sock product-lines during fiscal 2008 and the negative impact of the stronger U.S. dollar on Canadian and international sales. |
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SanMar Canada announces distributor agreement with New Era® Headwear
SanMar Canada is proud to announce that it will be the exclusive distributor of New Era® Headwear for the Canadian promotional market place. “New Era is by far the most respected cap line in the world. Our great value and deep inventory of New Era® Caps at SanMar Canada is going to invite customer loyalty into your showrooms” says Howie Todd, president of SanMar Canada. Each New Era® cap that SanMar Canada offers includes genuine New Era® seam taping, removable New Era® logo sticker and authentic silhouettes. Founded in 1920, New Era® is the exclusive manufacturer of the official on-field cap worn by every Major League Baseball team and their Minor League affiliates, producing more than 35 million caps per year. The caps are renowned for their quality and craftsmanship. New Era® Headwear is available at SanMar Canada as of March 2009. |
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The John Forsyth Shirt Company brings in specialized sales team
“To insure a better level of service, we are pleased to announce an important change in our marketing methods,” says Jerry Montagna, vice president of sales for The John Forsyth Shirt Company. “We have brought in a specialized team of experienced apparel professionals working in-house exclusively for John Forsyth to focus on communicating to our customers the diversity of our product line and the benefits our company brings to the market as an apparel specialist,” he added. “We would like to thank our industry partners and our customers for their continued support,” says Montagna, explaining that this change ultimately will enable the company’s distributors to increase their sales to end users and to more effectively utilize in-stock as well as custom private label programs. |
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Guru Sportswear appoints new business development manager
Guru Sportswear is pleased to announce the appointment of Dennis Brockman to the position of business development manager. Brockman brings with him more than 30 years of experience in the sportswear industry. “I am excited about the opportunity to work with the Guru team to grow the product line to be a leader in the industry worldwide,” said Brockman, adding that he was attracted by the vision and commitment that Guru has in becoming an industry leader. “Dennis will concentrate on building private label business as well as increasing the sales of our quality stock program,” said Richard Stamper, general manager of Guru Sportswear. Brockman can be reached at: 416.751.7772 or at dennis@gurusportswear.com. |
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Embroidery Software Training Seminar
Rubenstein Bros. and Pulse have announced an embroidery training seminar in Regina, SK, April 22 - 24, 2009. The seminar which focuses on software training and improving embroidery production takes place at the Best Western Oak Hotel, 777 Albert, St. Regina Sk. S4R 2P6 Tel: 306 757-0121 www.bestwesternsevenoaks.com The training, which will incorporate the latest version of Tajima DG/ML by Pulse software´ (Version 2009), will be conducted by Pulse area manager Andy Tamjidi as well as Willie Muller and Bill Dean who are Rubenstein office managers from Alberta and Saskatchewan. The first day of the seminar will examine lettering and editing techniques, which are the backbones of solid embroidery. Learning with an expert can potentially save you hours of effort and help you create great looking embroidery with ease. The second day of training focuses on digitizing tips and techniques which will to help you produce great work every time.. If you’re not a digitizer, come and learn how to make your own designs. If you’re already digitizing, there are invaluable tips from the experts on improving your production through designs that sew-out perfectly. The third day will cover the usage of Corel Draw and how to make it an even more productive software application through its integration with Tajima DG/ML by Pulse and other digital printing equipment. This seminar has limited seating capacity. Call Rubenstein Bros. to reserve your spot for this seminar. Tel: (780) 478-0073 or Toll-Free: (866)890-9488. |
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 Ash City Opens New Headquarters Ash City Worldwide is pleased to announce the opening of its new 285,000 sq ft. Worldwide Headquarters on February 9, 2009. Located in Richmond Hill, the brand new facility will house the company´s entire inventory, a state-of-the-art pick, pack and ship operation, full service embroidery and corporate office. “The improved facility and its capabilities represents the new Ash City and will allow our company to service our customers better than anyone else in the Industry,” said Garry Hurvitz, Ash City Worldwide president and CEO. “The new Canadian look combined with our overseas strength in quality control and product sourcing will allow Ash City to continue to provide the best valued products to the corporate marketplace,” he added. Ash City continues its commitment to continually improve the level of service and quality of product through this new Toronto Headquarters and two additional distribution centres located in Vancouver and Kansas City. |
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2009 Toronto Imprint Canada Show Welcomes over 3,100 Attendees
If the response to the Toronto Imprint Canada Show is any gauge, then the industry is committed to meeting the current economic challenges head-on. An enthusiastic 3,106 attendees came to the Show January 9 & 10, not only determined to survive any recession, but to also strengthen their businesses well into the future. “This is an important time for any industry,” said Show Manager Tony Muccilli. “It is vital to be proactive and creative to not only get through this economic downturn, but also to come out of it ahead of your competition. That was clearly the mindset of the attendees, who brought an amped-up level of energy to the Show.” David Pacella, of Toronto’s Blind Lamb Tees, said the Show was perfect for his business, and added the 2009 Event was the, “greatest Show ever!” Other attendees echoed Mr. Pacella‘s sentiments, with exit surveys revealing that - based on their experience at the 2009 Show - 91.6 per cent are already committed to attending The Toronto Imprint Show once again in 2010. The 2010 Toronto Imprint Canada Show comes back to the Toronto Congress Centre, January 8 & 9, 2010. |
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