Gildan Activewear Inc. (NYSE:GIL) Q3 2023 Earnings Call Transcript

Sabahat Khan: Great. And then I just want to follow-up. There’s some discussion earlier around sort of the distributor inventory levels expected to be sort of flat and then you are shipping following POS as well as market share capture. I guess, what is your sort of expectation on market share capture at this point? I’m guessing POS, probably follows the macro to some extent, not sure if you had any commentary there. But is it kind of the new innovation or things like that are leading to some expectation of market share capture or how are you thinking about that for the top line for next year?

Glenn Chamandy: Well, look, I mean, right now in the traditional basic category or the Open-End T-shirts, we’ve already had a quite large market share. So, we’re continuing to optimize on that. But the real big opportunity for us is to capitalize obviously on the ring spun and the fleece segments, which is really where all our focus is. And, we don’t have a larger share there. So that’s the area that we’re seeing all these market share gains. It’s a combination of taking share in the ring spun as well as the development of fleece, because the one thing about fleece, it’s a growth category. There is more sweatshirts being sold on a year-over-year basis. The category is up – it’s almost up we said double digits, but it’s almost a really high double digits, to be honest with you.

It’s doing very well. And it’s a growing category. So, those are the two big focuses for us. And we have what we think as competitors with very high cost structures in these two areas that will allow us to continue taking share.

Sabahat Khan: Great. Thanks very much for the color.

Operator: There are no further questions at this time. Ms. Hayem, I turn the call back over to you.

Jessy Hayem: Okay. Once again, we would like to thank everyone for joining us this morning, and we look forward to speaking to you soon. Have a great day.

Operator: This concludes today’s conference call. You may now disconnect.