Gildan Inches Higher on Under Armour Exit
Net income was up 3% to $131.5 million from $127.4 million on 2% higher sales of $891.1 million, up from $869.9 million for the third quarter, constrained by the phase-out of the Under Armour business in hosiery and underwear. Backing out that impact, the top line was up high-single digits. Activewear improved 6% to $788.3 million on higher POS results across channels in North America, with national accounts getting a call out for strength in online. This was partially offset by an unfavorable mix as fleece faced tough comps on timing ... Log in to view full article.