2024-05-20 13:52:35 ET
Summary
- Gildan Activewear is the largest US t-shirt manufacturer and an integrated manufacturer (raw cotton to end-product) of t-shirts, hoodies, underwear, and socks.
- The company is undergoing a vocal proxy challenge between the Board and current CEO vs. a group of activists and the previous CEO. The next chapter of the battle is a shareholder meeting on May 28th.
- Gildan's impressive market position remains strong. The company's margin is expanding, and it is gaining market share in a challenging industry scenario.
- The proxy battle is costing money, time, and reputation. It is not clear that the shareholder meeting will resolve it.
- Until there is more managerial clarity and at current prices, Gildan is a Hold.
Gildan Activewear (GIL) (GIL:CA) is the largest US t-shirt manufacturer and an integrated manufacturer (raw cotton to end-product) of t-shirts, hoodies, underwear, and socks....
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Gildan Is Too Uncertain Before The Shareholder Meeting On May 28th