Newspaper article The Canadian Press

Gildan Shares Up 17 per Cent after Q2 Results Beat, Record Quarterly Sales

Newspaper article The Canadian Press

Gildan Shares Up 17 per Cent after Q2 Results Beat, Record Quarterly Sales

Article excerpt

Gildan shares up 17 per cent after better-than-expected Q2

--

MONTREAL - Clothing maker Gildan Activewear Inc. shares closed up more than 21 per cent after the company reported record second-quarter sales and profits that beat expectations on the back of strong performance in key growth areas including fashion basics and international markets.

Net earnings amounted to $109 million, or 51 cents per diluted share, up from $107.7 million, or 48 cents per share, during the same period last year.

Quarterly revenue rose seven per cent to $764.1 million, driven by a 17 per cent increase in activewear sales, particularly fleece wear.

That was partially offset by a 24 per cent decline in sales in its hosiery and underwear lines, largely due to a decline in sock orders at big retailers, which it says are shifting toward their own private label brands. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.