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Gildan has announced its full-year results for 2022 and reported a revenue increase of 11% during the 12-month period.
The company achieved record sales of $3,240 million, up 11% when compared to 2021. This is despite Q4 sales of $720 million, down 8% versus the prior year.
Glenn J. Chamandy, president and CEO of Gildan, said: “I am extremely proud of our team’s record performance in 2022 with revenue up 11% over 2021 and strong margin delivery in every fiscal quarter.
“And despite near term headwinds related to the economic environment, which impacted our performance in the fourth quarter and which may persist through the first part of 2023, we remain excited about the Gildan Sustainable Growth strategy, as well as our strong competitive positioning and ability to support our customers, as we work towards delivering on our long-term growth aspirations.”
In 2023, Gildan expects revenue growth for the full year to be in the low single digit range.
