Gildan Activewear

Gildan Activewear - GIL . TSX

This is what I thought in March 2020 when I first bought the stock...

Gildan Activewear is a large, vertically integrated manufacturer of  T-shirts, underwear, socks and pantyhose. They manufacture mostly in the United States and Central America and pride themselves on their high standards for social and environmental responsibility. They have a long, successful track record behind them and plans for continued growth in the future. The company has been challenged recently by shifting trends in the retail industry and the stock price has suffered as a result. Longer term, my hope is that their recent push to streamline and optimise their operations will give them the flexibility to adapt to the challenges and continue to prosper in the  years ahead. At the approximate $15 share price level that I paid for my own stock, the company has a trailing p:e ratio of 6. Clearly, the market is taking a dim view of this company's prospects, but my belief is that this pessimism will ultimately prove to be unfounded.