CANADA: Gildan Q2 profit buoyed by activewear gains
- Q2 adjusted net profit up 29.1% to US$64.3m
- Net sales up 17.3% to $383.2m
- Activewear/underwear sales up, socks down
Gildan Activewear posted a strong increase to its second quarter profit, thanks to a double-digit sales increase in the three months to 3 April.
The Canadian company said sales for its activewear and underwear division had increased 25.3% during the quarter, partially offset by a 23.9% fall in revenues from its socks business.
Gildan said it expected full-year sales in the region of $1.8bn, with earnings per share of around $2.00-2.10.
- DENIM DAYS: Jeans innovation bursting at the seams
- How will TPP emerge from fast-track trade bill?
- Adidas pushing self-governance for suppliers
- 3D printing gears up for fashion industry change
- US fashion industry applauds trade bills package
- China textile and garment firms eyeing Morocco?
- Under Armour hailed "next global athletic company"
- Myanmar garment workers strike deal
- Orta and Garmon launch denim chemical screening
- Hanesbrands eyes 600 job cuts in restructure