Gildan Activewear sees first-quarter profit rise to US$84.7 million

Net sales for the quarter ended March 30 totalled US$711.7 million, up from US$695.8 million.

Christinne Muschi/The Canadian Press Gildan Activewear Inc. GIL-T saw its earnings rise to US$84.7 million in its latest quarter.



The Montreal-based apparel maker, which keeps its book in U.S. dollars, says the first-quarter profit compared with net earnings of US$78.

7 million a year earlier. Net sales for the quarter ended March 30 totalled US$711.7 million, up from US$695.

8 million. On an adjusted basis, Gildan says it earned US$89.8 million in the quarter, compared with US$99.

1 million a year ago. Those figures translated to adjusted earnings of 59 cents US per diluted share, flat compared with a year before. Financial markets data firm Refinitiv said on average analysts had expected adjusted earnings of 57 cents US per diluted share.

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