Gildan Activewear Reports Third Quarter 2019 Results
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Gildan Activewear (GIL) Misses Q3 EPS by 1c
October 31, 2019 7:43 AM EDTGildan Activewear (NYSE: GIL) reported Q3 EPS of $0.53, $0.01 worse than the analyst estimate of $0.54. Revenue for the quarter came in at $740 million versus the consensus estimate of $790.67 million.
GUIDANCE:
Gildan Activewear sees FY2019 EPS of $1.65-$1.70, versus the consensus of $1.66.
Given the sales weakness for imprintables both in North America and internationally in the third quarter, which we continue to see in the fourth quarter, combined with the expected impact of lower than previously projected year-end distributor inventory levels, the Company is projecting full year 2019 sales to be down... More