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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001047469-03-031280.txt : 20030922
<SEC-HEADER>0001047469-03-031280.hdr.sgml : 20030922
<ACCEPTANCE-DATETIME>20030922155641
ACCESSION NUMBER:		0001047469-03-031280
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20030922
FILED AS OF DATE:		20030922

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GILDAN ACTIVEWEAR INC
		CENTRAL INDEX KEY:			0001061894
		STANDARD INDUSTRIAL CLASSIFICATION:	APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL [2300]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			1003

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14830
		FILM NUMBER:		03904330

	BUSINESS ADDRESS:	
		STREET 1:		725 MONTEE DE LIESSE
		STREET 2:		VILLE SAINT LAURENT
		CITY:			QUEBEC CANADA
		STATE:			A8
		ZIP:			00000
		BUSINESS PHONE:		5147352023

	MAIL ADDRESS:	
		STREET 1:		725 MONTEE DE LIESSE
		STREET 2:		ST LAURENT QUE
		CITY:			CANADA
		STATE:			A8
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>a2119041z6-k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>

</HEAD>
<BODY BGCOLOR="#FFFFFF" LINK=BLUE  VLINK=PURPLE>
<BR>
<FONT SIZE=3 ><A HREF="#03MTL1307_1">QuickLinks</A></FONT>
<font size=3> -- Click here to rapidly navigate through this document</font>
<HR NOSHADE>
<P ALIGN="CENTER"><FONT SIZE=5><B>SECURITIES AND EXCHANGE COMMISSION<BR>  </B></FONT><FONT SIZE=2><B>Washington, DC 20549  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=5><B>FORM 6-K  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=3><B>REPORT OF FOREIGN PRIVATE ISSUER  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=3><B> Pursuant to Rule&nbsp;13a-16 or&nbsp;15d-16 under<BR>
the Securities Exchange Act of 1934  </B></FONT></P>

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<TABLE WIDTH="100%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="BOTTOM">
<TH WIDTH="49%" ALIGN="CENTER"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="49%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="49%"><FONT SIZE=2>For the month of: </FONT><FONT SIZE=2><B>September&nbsp;2003</B></FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="49%" ALIGN="RIGHT"><FONT SIZE=2>Commission File Number: </FONT><FONT SIZE=2><B>1-14830</B></FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=5><B>GILDAN ACTIVEWEAR&nbsp;INC.<BR>  </B></FONT><FONT SIZE=2>(Translation of registrant's name into English) </FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>725 Mont&eacute;e de Liesse<BR>
Ville Saint-Laurent, Quebec<BR>
Canada H4T-1P5<BR>  </B></FONT><FONT SIZE=2><I>(Address of principal executive offices)</I></FONT></P>

<P><FONT SIZE=2>Indicate
by check mark whether the registrant files or will file annual reports under cover of Form&nbsp;20-F or Form&nbsp;40-F: </FONT></P>

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<DIV ALIGN="CENTER"><TABLE WIDTH="80%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="23%" ALIGN="RIGHT"><FONT SIZE=2>Form&nbsp;20-F</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="23%"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="23%" ALIGN="RIGHT"><FONT SIZE=2>Form&nbsp;40-F</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="23%"><FONT SIZE=2><FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<P><FONT SIZE=2>Indicate
by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the SEC pursuant to Rule&nbsp;12g3-2(b)
under the Securities Exchange Act of 1934: </FONT></P>

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<DIV ALIGN="CENTER"><TABLE WIDTH="80%" BORDER=0 CELLSPACING=0 CELLPADDING=0>
<TR VALIGN="TOP">
<TD WIDTH="23%" ALIGN="RIGHT"><FONT SIZE=2>Yes</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="23%"><FONT SIZE=2><FONT FACE="WINGDINGS">&#111;</FONT></FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="23%" ALIGN="RIGHT"><FONT SIZE=2>No</FONT></TD>
<TD WIDTH="3%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="23%"><FONT SIZE=2><FONT FACE="WINGDINGS">&#253;</FONT></FONT></TD>
</TR>
</TABLE></DIV>
<!-- end of user-specified TAGGED TABLE -->


<P><FONT SIZE=2>If
"Yes" is marked, indicate the file number assigned to the registrant in connection with Rule&nbsp;12g3-2(b): 82- N/A. </FONT></P>

<HR NOSHADE>
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<P ALIGN="CENTER"><FONT SIZE=2><B>MATERIAL CHANGE REPORT  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>Section&nbsp;146(1) of the </FONT><FONT SIZE=2><I>Securities Act</I></FONT><FONT SIZE=2> (Alberta)<BR>
Section&nbsp;85(1) of the </FONT><FONT SIZE=2><I>Securities Act</I></FONT><FONT SIZE=2> (British Columbia)<BR>
Section&nbsp;76(2) of </FONT><FONT SIZE=2><I>The Securities Act,</I></FONT><FONT SIZE=2> 1990 (Newfoundland)<BR>
Section&nbsp;81(2) of the </FONT><FONT SIZE=2><I>Securities Act</I></FONT><FONT SIZE=2> (Nova Scotia)<BR>
Section&nbsp;75(2) of the </FONT><FONT SIZE=2><I>Securities Act</I></FONT><FONT SIZE=2> (Ontario)<BR>
Section&nbsp;84(1) of </FONT><FONT SIZE=2><I>The Securities Act</I></FONT><FONT SIZE=2>, 1988 (Saskatchewan) </FONT></P>

<P><FONT SIZE=2><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reporting Issuer  </B></FONT></P>

<UL>

<P><FONT SIZE=2>Gildan
Activewear&nbsp;Inc.<BR>
725 Mont&eacute;e de Liesse<BR>
Ville Saint-Laurent, Qu&eacute;bec<BR>
H4T&nbsp;1P5 </FONT></P>

</UL>

<P><FONT SIZE=2><B>2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Date of Material Change  </B></FONT></P>

<UL>

<P><FONT SIZE=2>September&nbsp;12,
2003 </FONT></P>

</UL>

<P><FONT SIZE=2><B>3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Press Release  </B></FONT></P>

<UL>

<P><FONT SIZE=2>A
Press Release was issued by Gildan Activewear&nbsp;Inc. ("Gildan") on September&nbsp;12, 2003 in Montr&eacute;al, Qu&eacute;bec. A copy of the press release is annexed hereto and
forms an integral part hereof. </FONT></P>

</UL>

<P><FONT SIZE=2><B>4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Summary of Material Change  </B></FONT></P>

<UL>

<P><FONT SIZE=2>On
September&nbsp;12, 2003, Gildan announced that it expects its earnings for the fourth quarter and for the full 2003 fiscal year to be lower than previously forecasted. Gildan is forecasting full
year diluted EPS in the range of $2.55&nbsp;&#150;&nbsp;$2.60, up 13%&nbsp;&#150;&nbsp;15% from fiscal 2002. </FONT></P>

</UL>

<P><FONT SIZE=2><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Full Description of Material Change  </B></FONT></P>

<UL>

<P><FONT SIZE=2>On
September&nbsp;12, 2003, Gildan announced that it expects its earnings for the fourth quarter and for the full 2003 fiscal year to be lower than previously forecasted. Gildan is forecasting full
year diluted EPS in the range of $2.55&nbsp;&#150;&nbsp;$2.60, up 13%&nbsp;&#150;&nbsp;15% from fiscal 2002. The Company's previous outlook for the
current year had reflected guidance towards the high end of the range of $2.70&nbsp;&#150;&nbsp;$2.80 for diluted EPS. All EPS data for fiscal 2003 include the special charge
reflected in the second quarter for closure of the Montreal sewing facility. </FONT></P>

<P><FONT SIZE=2>In
U.S.&nbsp;dollars, the revised fiscal 2003 guidance represents a 20%&nbsp;&#151;&nbsp;23% increase over fiscal 2002. </FONT></P>

<P><FONT SIZE=2>Unit
sales from U.S.&nbsp;distributors to screenprinters have continued to be strong in July and August, according to the S.T.A.R.S. report issued by ACNielsen Market Decisions. Market growth in
T-shirts was 21.7% in July and preliminary data for August shows growth of 4.5%. However, this growth is not translating into a corresponding rate of inventory replenishment at the
distributor level, due primarily to timing issues, and is resulting in lower than projected unit sales for Gildan into the distributor channel. The Company expects to end the fourth quarter with
inventories in the distributor channel at a similar level to last year, in spite of the strong overall market growth and Gildan's continuing market share penetration. Gildan's market share has
continued to increase in all product categories in the first two months of the fourth quarter. Market share in T-shirts in the U.S.&nbsp;distributor channel exceeded 30% in both July and
August. Market share in sport shirts averaged 21.0% for the two months, and the Company is now achieving significant penetration in the fleece segment, with a share of 13.4% in July, and 20.9% in
August based on the preliminary data. </FONT></P>

<P><FONT SIZE=2>In
addition to the timing impact of lower unit volumes, EPS for the quarter will be negatively impacted by lower than forecast gross margins due to a lower-value product mix and more promotional
activity. Selling, general and administrative expenses will be lower than forecast due to lower volume-related expenses and a reduction in variable compensation. The Company believes that the lower
than forecast results for the fourth quarter largely reflect short-term timing issues and that its continuing positive market share momentum and the cost reductions from its recent capital
investments position it well to sustain strong EPS </FONT></P>

</UL>
<HR NOSHADE>
<!-- ZEQ.=1,SEQ=2,EFW="2119041",CP="GILDAN ACTIVEWEAR INC.",DN="1",CHK=386282,FOLIO='blank',FILE='DISK005:[03MTL7.03MTL1307]DE1307A.;8',USER='RCHAN',CD='22-SEP-2003;14:13' -->
<UL>
<BR>

<P><FONT SIZE=2>growth
in fiscal 2004. The Company still expects to achieve 15% EPS growth in fiscal 2004 over its prior guidance range of $2.70&nbsp;&#150;&nbsp;$2.80 for the current financial
year. </FONT></P>

<P><FONT SIZE=2>H.
Gregory Chamandy, Chairman and Chief Executive Officer of Gildan Activewear, commented: "After seven successive quarters of exceeding our earnings projections, it is disappointing to have to lower
our guidance for the fourth quarter of fiscal 2003 because of short term factors. However, our overall results for the year still reflect 13% to 15% EPS growth over our record performance in fiscal
2002, despite the impact of the weaker U.S.&nbsp;dollar. Our manufacturing cost reductions and our continuing market share penetration have more than offset the negative impact of the weaker
U.S.&nbsp;exchange rate, and provide us with the confidence that we will achieve our stated EPS growth and strategic objectives in 2004 and beyond." </FONT></P>

</UL>

<P><FONT SIZE=2><B>6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reliance/Confidential  </B></FONT></P>

<UL>

<P><FONT SIZE=2>Not
Applicable </FONT></P>

</UL>

<P><FONT SIZE=2><B>7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Omitted Information  </B></FONT></P>

<UL>

<P><FONT SIZE=2>Not
Applicable </FONT></P>

</UL>

<P><FONT SIZE=2><B>8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Officer  </B></FONT></P>

<UL>

<P><FONT SIZE=2>St&eacute;phane
Lemay<BR>
Vice-President, Public and Legal Affairs<BR>
(514)&nbsp;734-8394 </FONT></P>

</UL>
<HR NOSHADE>
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<P><FONT SIZE=2><B>9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Statement of Senior Officer  </B></FONT></P>

<UL>

<P><FONT SIZE=2>The
foregoing accurately discloses the material change referred to herein. </FONT></P>

</UL>

<P><FONT SIZE=2>DATED
at Montreal this 22<SUP>nd</SUP> day of September, 2003. </FONT></P>

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<TD WIDTH="50%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>GILDAN ACTIVEWEAR&nbsp;INC.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="50%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>ST&Eacute;PHANE LEMAY</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Name: St&eacute;phane Lemay<BR>
Title: </FONT><FONT SIZE=2><I>Vice-President, Public and Legal Affairs<BR> </I></FONT></TD>
</TR>
</TABLE>
<!-- end of user-specified TAGGED TABLE -->

<HR NOSHADE>
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<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="page_dg1307_1_1"> </A> </FONT> <FONT SIZE=2><B>
<IMG SRC="g596721.jpg" ALT="LOGO" WIDTH="201" HEIGHT="66">
  </B></FONT></P>

<P><FONT SIZE=4><B>PRESS RELEASE  </B></FONT></P>

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<TR VALIGN="BOTTOM">
<TH WIDTH="12%" ALIGN="CENTER"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
<TH WIDTH="2%"><FONT SIZE=1>&nbsp;</FONT></TH>
<TH WIDTH="85%" ALIGN="LEFT"><FONT SIZE=1>&nbsp;</FONT><BR></TH>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="12%"><FONT SIZE=2>Contact:</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="85%"><FONT SIZE=2>Laurence G. Sellyn, Executive Vice President Finance<BR>
and Chief Financial Officer<BR>
Tel: (514)&nbsp;343-8805<BR>
Email: <U>lsellyn@gildan.com</U></FONT></TD>
</TR>
</TABLE>
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<P ALIGN="CENTER"><FONT SIZE=3><B><U>Gildan Activewear Reduces EPS Guidance for Fourth</U><BR>
<U>Quarter and Full 2003 Fiscal Year</U>  </B></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2><B>&#150;&nbsp;Short-Term Factors not Expected to Affect EPS Growth Objectives for Fiscal 2004 and
Beyond&nbsp;&#150;<BR>
&#150;&nbsp;Growth in Industry Demand and Market Share Continues&nbsp;&#150;  </B></FONT></P>

<P><FONT SIZE=2><B>Montreal, Friday, September&nbsp;12, 2003</B></FONT><FONT SIZE=2>&nbsp;&#151;&nbsp;Gildan Activewear (NYSE: GIL; TSX: GIL.A)
today announced that it expects its earnings for the fourth quarter and for the full 2003 fiscal year to be lower than previously forecasted. Gildan is forecasting full year diluted EPS in the range
of $2.55&nbsp;&#150;&nbsp;$2.60, up 13%&nbsp;&#150;&nbsp;15% from fiscal 2002. The Company's previous outlook for the current year had reflected guidance
towards the high end of the range of $2.70&nbsp;&#150;&nbsp;$2.80 for diluted EPS. All EPS data for fiscal 2003 include the special charge reflected in the second quarter for
closure of the Montreal sewing facility. </FONT></P>

<P><FONT SIZE=2>In
U.S.&nbsp;dollars, the revised fiscal 2003 guidance represents a 20%&nbsp;&#150;&nbsp;23% increase over fiscal&nbsp;2002. </FONT></P>

<P><FONT SIZE=2>Unit
sales from U.S.&nbsp;distributors to screenprinters have continued to be strong in July and August, according to the S.T.A.R.S. report issued by ACNielsen Market Decisions. Market growth in
T-shirts was 21.7% in July and preliminary data for August shows growth of 4.5%. However, this growth is not translating into a corresponding rate of inventory replenishment at the
distributor level, due primarily to timing issues, and is resulting in lower than projected unit sales for Gildan into the distributor channel. The Company expects to end the fourth quarter with
inventories in the distributor channel at a similar level to last year, in spite of the strong overall market growth and Gildan's continuing market share penetration. Gildan's market share has
continued to increase in all product categories in the first two months of the fourth quarter. Market share in T-shirts in the U.S.&nbsp;distributor channel exceeded 30% in both July and
August. Market share in sport shirts averaged 21.0% for the two months, and the Company is now achieving significant penetration in the fleece segment, with a share of 13.4% in July, and 20.9% in
August based on the preliminary data. </FONT></P>

<P ALIGN="RIGHT"><FONT SIZE=2>1</FONT></P>

<HR NOSHADE>
<!-- ZEQ.=1,SEQ=5,EFW="2119041",CP="GILDAN ACTIVEWEAR INC.",DN="1",CHK=186336,FOLIO='1',FILE='DISK005:[03MTL7.03MTL1307]DG1307A.;10',USER='FALVARE',CD='22-SEP-2003;14:44' -->
<A NAME="page_dg1307_1_2"> </A>

<P><FONT SIZE=2>In
addition to the timing impact of lower unit volumes, EPS for the quarter will be negatively impacted by lower than forecast gross margins due to a lower-value product mix and more promotional
activity. Selling, general and administrative expenses will be lower than forecast due to lower volume-related expenses and a reduction in variable compensation. The Company believes that the lower
than forecast results for the fourth quarter largely reflect short-term timing issues and that its continuing positive market share
momentum and the cost reductions from its recent capital investments position it well to sustain strong EPS growth in fiscal 2004. The Company still expects to achieve 15% EPS growth in fiscal 2004
over its prior guidance range of $2.70&nbsp;&#150;&nbsp;$2.80 for the current financial year. </FONT></P>

<P><FONT SIZE=2>H.
Gregory Chamandy, Chairman and Chief Executive Officer of Gildan Activewear, commented: "After seven successive quarters of exceeding our earnings projections, it is disappointing to have to lower
our guidance for the fourth quarter of fiscal 2003 because of short term factors. However, our overall results for the year still reflect 13% to 15% EPS growth over our record performance in fiscal
2002, despite the impact of the weaker U.S.&nbsp;dollar. Our manufacturing cost reductions and our continuing market share penetration have more than offset the negative impact of the weaker
U.S.&nbsp;exchange rate, and provide us with the confidence that we will achieve our stated EPS growth and strategic objectives in 2004 and beyond." </FONT></P>

<P><FONT SIZE=2><U>Profile</U> </FONT></P>

<P><FONT SIZE=2>Gildan
Activewear is a public, vertically-integrated manufacturer and marketer of premium quality branded basic activewear for sale principally in the wholesale imprinted activewear segment of the
Canadian, U.S. and European apparel markets. The company manufactures and sells premium quality 100% cotton and 50% cotton/50% polyester T-shirts, placket collar sport shirts and
sweatshirts in a variety of weights, sizes, colours and styles. The company sells its products as blanks, which are ultimately decorated with designs and logos for sale to consumers. Gildan employs
more than 8,500 full-time employees. </FONT></P>

<P><FONT SIZE=2><I>(Unless otherwise indicated, all amounts are expressed in Canadian dollars.)  </I></FONT></P>

<P><FONT SIZE=2><I>Certain statements included in this press release may constitute "forward-looking statements" within the meaning of the U.S.&nbsp;Private Securities Litigation Reform Act of
1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause actual results to differ materially from future results expressed or implied by
such forward-looking statements. We refer you to the Company's filings with the U.S.&nbsp;Securities and Exchange Commission and Canadian securities regulatory authorities for a discussion of the
various factors that may affect the Company's future results.</I></FONT></P>

<P ALIGN="CENTER"><FONT SIZE=2>&#150;&nbsp;30&nbsp;&#150;
</FONT></P>

<P ALIGN="RIGHT"><FONT SIZE=2>2</FONT></P>

<HR NOSHADE>
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<!-- TOC_END -->
<P ALIGN="CENTER"><FONT SIZE=2><A
NAME="jc1307_signatures"> </A>
<A NAME="toc_jc1307_1"> </A>
<BR></FONT><FONT SIZE=2><B>SIGNATURES    <BR>    </B></FONT></P>

<P><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized. </FONT></P>

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<TD WIDTH="50%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2>&nbsp;</FONT></TD>
<TD COLSPAN=2><FONT SIZE=2>GILDAN ACTIVEWEAR&nbsp;INC.</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="50%"><FONT SIZE=2><BR>
Date: September&nbsp;22, 2003</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
<TD WIDTH="50%"><FONT SIZE=2><BR>
&nbsp;</FONT></TD>
<TD WIDTH="2%"><FONT SIZE=2><BR>&nbsp;</FONT></TD>
<TD WIDTH="4%"><FONT SIZE=2><BR>
By:</FONT></TD>
<TD WIDTH="44%"><FONT SIZE=2><BR>
/s/&nbsp;&nbsp;</FONT><FONT SIZE=2>ST&Eacute;PHANE LEMAY</FONT><FONT SIZE=2>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><HR NOSHADE><FONT SIZE=2> Name: St&eacute;phane Lemay<BR>
Title: </FONT><FONT SIZE=2><I>Vice-President, Public and Legal Affairs<BR> </I></FONT></TD>
</TR>
</TABLE>
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<BR>
<P><br><A NAME="03MTL1307_1">QuickLinks</A><br></P>
<!-- TOC_BEGIN -->
<FONT SIZE=2><A HREF="#toc_jc1307_1">SIGNATURES</A></FONT><BR>
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`
end

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
