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Article Date: October 2019
Word Count: 408

Gildan Q3 Results Decline as Expected

Net income slipped 8% in the third quarter to $104.9 million from $114.3 million on 2% lower revenues of $739.7 million down from $754.4 million on weak sales of imprintable basics and hosiery. The results were broadly in line with GIL’s pre-announcement of Q3 results two weeks ago, but it further reduced its full-year earnings guidance to $1.43 to $1.48 per share ($296 mm). The guidance was revised to include $45 million in restructuring costs up from earlier estimates of $30 million, as GIL has decided to relocate its Mexican textile and sewing production to lower cost plants in Central ... Log in to view full article.


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