Gildan Activewear (GIL) Reports In-Line Q1 EPS

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Gildan Activewear Reports First Quarter 2016 Results and Reconfirms Guidance for 2016

May 4, 2016 4:34 PM EDT

MONTREAL, QUEBEC -- (Marketwired) -- 05/04/16 -- Gildan Activewear Inc. (TSX: GIL)(NYSE: GIL) today announced its results for the three months ended April 3, 2016, reconfirmed its guidance for 2016 and also announced it had entered into a definitive agreement to acquire Alstyle Apparel, LLC (Alstyle).

Gildan's performance in the first quarter of the year was in line with management expectations. Printwear sales reflected positive point of sales growth offset by the anticipated impact of lower inventory replenishment by distributors. In Branded Apparel, strong sales of Gildan branded products were... More