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Gildan Activewear Inc. says it expects to get a big lift next year even though the low-cost clothing manufacturer isn't counting on an economic recovery to help boost its sales and profitability. "What will drive our growth will be our own initiatives in terms of market share in our existing markets, international expansion and our major thrust to go into retail. And economic recovery will be on top of that," said Laurence Sellyn, the chief operating and financial officer. Gildan, which keeps its books in U.S. dollars, reported earnings of $41.5-million or 34 cents per share for the quarter ended July 5, down from year-earlier profit of $54.5-million or 45 cents. GIL (TSX) closed at $19.73, up $1.31.

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Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 25/04/24 4:00pm EDT.

SymbolName% changeLast
GIL-N
Gildan Activewear
-1.6%35.07
GIL-T
Gildan Activewear Inc
-1.9%47.91

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