Gildan results benefit from higher customer replenishment.

Canadian sportswear company Gildan Activewear saw an 8.1 percent increase in activewear sales in Q4, driven by higher volumes at point-of-sale and increased customer replenishment. The company also experienced strong sales in the fleece and ring-spun T-shirt segments. Overall, Gildan's operating income increased by 92 percent to $178.1 million, and total revenues rose by 8.7 percent to $782.7 million. However, sales outside of North America fell by 24 percent due to challenging macroeconomic conditions. Gildan's adjusted gross margin improved by 110 basis points to 30.2 percent, primarily due to lower raw material costs. For the full year, activewear sales declined by 3.4 percent, and adjusted net income decreased by 21 percent. Gildan's outlook for FY24 predicts a slightly higher adjusted operating margin and flat to low single-digit revenue growth. The company is also in the process of ramping up its new facility in Bangladesh. [Extracted from the article]