Gildan Activewear, citing an unfavorable shift in its activewear assortment as more consumers flock to lower-priced products, has adjusted its full-year revenue and operating margin outlook. The Montreal-based company is now forecasting annual sales at “flat to down low-single digits” versus prior guidance for a low-single-digit increase. FY23 adjusted operating margin is now expected to come in slightly below the company’s target range of 18% to 20%. Adjusted net income guidance for the year was also reduced to between $2.55 and $2.65 per share, down from last year’s $3.11.

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