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Stock Market & Financial Investment News

News Breaks
September 23, 2013
08:42 EDTGILGildan Activewear announce planned major investment in yarn-spinning facilities
Gildan Activewear announced that it is evaluating potential sites in the Southern U.S. for the construction of two additional yarn-spinning facilities, to support its projected sales growth and further reinforce its position as a global low-cost manufacturer. The facilities will be built with the most modern product technology, which will continue to differentiate the product quality of Gildan branded products. The company currently expects to invest in excess of $200M during FY14 and FY15 for the construction and ramp up of these new facilities. This investment will be made in addition to the investments announced on November 29, 2012 for a new ring-spun yarn manufacturing facility in Salisbury, N.C., and the refurbishment and modernization of the Company's open-end facilities in Clarkton, N.C. and Cedartown, GA.
News For GIL From The Last 14 Days
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July 31, 2015
11:31 EDTGILHanesbrands plummets after cutting FY15 revenue outlook
Shares of apparel maker Hanesbrands (HBI) are sinking after the company lowered its fiscal 2015 revenue outlook. WHAT'S NEW: After the close on Thursday, HanesBrands reported second quarter adjusted earnings per share of 50c, in line with analysts' consensus estimates, on revenue of $1.52B, slightly missing consensus estimates for $1.56B. Net sales excluding foreign currency fluctuations and the acquisitions of DBApparel and Knights Apparel increased 1% in Q2. The company said it drove significant margin expansion in its Innerwear and Activewear segments. WHAT'S NOTABLE: Hanesbrands backed its FY15 adjusted EPS view of $1.61-$1.66, versus analysts' consensus estimates of $1.65. However, the company lowered its FY15 revenue guidance to "slightly less" than $5.9B from its previous view of $5.9B-$5.95B, below analysts' estimates of $5.96B. Adjusted operating profit for the year is expected at $855M-$875M. The guidance for 2015 represents growth over 2014 results of 13%-17% for adjusted EPS, nearly 11% for net sales and 12%-15% for adjusted operating profit. Richard Noll, the chairman and Chief Executive Officer of Hanesbrands, commented that the company continues to deliver double-digit growth in adjusted operating profit and EPS as expected, "and we are tracking to our full-year profit expectations." ANALYST REACTION: Barclays said this morning that Hanesbrands' weakness represented a buying opportunity. While the firm's analyst was disappointed by Innerwear weakness, the analyst said Q3 expectations have been reset. Barclays believes Hanesbrands is one of the best stories to own heading into 2016 as past M&A synergies, likely new M&A and buybacks support 2016 earnings growth. The firm rated shares an Overweight. PRICE ACTION: In late morning trading, Hanesbrands fell $3.39, or about 10%, to $30.75 on more than twice its average daily trading volume. Despite this pullback, the shares have gained approximately 24% over the past year. OTHERS TO WATCH: Other apparel companies include Gildan Activewear (GIL), down 5.8%, and Delta Apparel (DLA), down 5.3%.
07:32 EDTGILGildan Activewear sees FY15 EPS as bottom of $1.50-$1.55 range, consensus $1.53
Sees FY15 revenue close to $2.65B, consensus $2.66B.
07:30 EDTGILGildan Activewear sees Q3 EPS 51c-53c, consensus 58c
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07:29 EDTGILGildan Activewear reports Q2 adjusted EPS 42c, consensus 44c
Reports Q2 revenue $714.2M, consensus $760.61M.

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