Gildan Activewear CEO Vince Tyra provides key focus strategic priorities

Company Reconfirms 2024 Full Year Guidance
Announces Preliminary Q1 2024 Revenue
Company to Host Investor Day in Fall 2024

MONTREAL, April 15, 2024 (GLOBE NEWSWIRE) -- Gildan Activewear Inc. (GIL; TSX and NYSE) today announced that its President and CEO, Vince Tyra has unveiled his key focus strategic priorities. Concurrently, the Company also reconfirmed its 2024 full year guidance and announced preliminary Q1 revenue. Furthermore, the Company intends to hold an Investor Day in the Fall of 2024 to provide a comprehensive strategic plan.

Reflecting on his first 90 days, Vince Tyra said, “I’m excited to be leading Gildan at this pivotal time. Having completed 90 days at the helm of Gildan, I wanted to share with you my key focus strategic priorities and articulate how we can leverage our strengths and accelerate value creation for all stakeholders. Importantly, these priorities reflect feedback received from shareholders and their desire for us to continue sustainably growing Gildan. As we continue to execute on the key components of the Gildan Sustainable Growth strategy, my first few months as CEO have confirmed my belief that Gildan’s core fundamentals are strong and that we are in a great position to unlock further potential and launch the next phase of our growth. My management team and I will continue to review the business and we look forward to presenting a fuller view at an Investor Day this Fall.”

With its three key pillars, Growth, Innovation, and ESG, the Gildan Sustainable Growth (GSG) strategy has set the foundation for the Company’s future. Capitalizing on this strong foundation and the continued execution of the GSG plan which remains core to Gildan’s business, today Vince Tyra outlined his key focus strategic priorities to unlock further growth potential while amplifying the Company’s commercial capabilities. These five key priorities are:

• Successfully execute supply chain initiatives to maintain availability, cost leadership and industry leading margins;
• Leverage Gildan’s unique brands and develop distinct commercial capabilities to accelerate growth and strengthen the Company’s market position;
• Deepen Gildan’s relationships with existing and prospective retail partners, strengthening the Company’s position as the supplier of choice;
• Complement Gildan’s strong North American market position with renewed focus on select international markets to drive growth; and
• Empower and build world-class talent and leadership to ensure long term resilience of Gildan’s business.