Report
David Swartz
EUR 100.00 For Business Accounts Only

Lacking Strong Retail Brands or Cost Advantages, We Maintain Our View Gildan Has no Moat

No-moat Gildan continues to capitalize on the strategic priorities laid out at its March investor day, with activewear (sales up 17.3%) and international (up 35.2%) highlighting its second-quarter update and more than offsetting weakness in hosiery/underwear, which was down 23.8% due in large part to the continued shift to private-label socks in the mass channel. We've been optimistic about Gildan's longer-term unit growth opportunity in imprintables as e-commerce increases the accessibility of ...
Underlying
Gildan Activewear Inc.

Gildan Activewear is engaged in the manufacturing and selling of activewear, socks and underwear. Co. sells activewear products to screenprint markets in North America, Europe and other international markets. Co. is the supplier of activewear for the screenprint channel in the United States, Canada, Europe and Mexico. Co. sells socks and underwear, in addition to its activewear products, to mass market and regional retailers in North America.

Provider
Morningstar
Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

Analysts
David Swartz

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