Gildan Activewear (NYSE: GIL) Issues Profit Warning, Lowering FY19 Guidance on Weak Imprintables Demand

Executive Summary

On October 17, 2019, Gildan Activewear issued a profit warning for 3Q19 results and revised its 2019 full-year guidance.

• Gildan now expects revenue for 3Q19 to be approximately $740 million, down 2% from the year-ago quarter.
• The company offered revised guidance for 3Q19 GAAP EPS of $0.51 and adjusted EPS of $0.53, both down 7% from 3Q18.
• Gildan assumes the current demand for imprintable apparel in North America and ongoing softness in international markets will persist through 4Q19.