Signage is seen at Gildan Activewear Inc.'s annual meeting in Montreal, Tuesday, May 28, 2024. THE CANADIAN PRESS/Christinne MuschiChristinne Muschi/The Canadian Press
Gildan Activewear Inc. GIL-T says its earnings rose in the second quarter as it reaffirmed its full-year guidance after considering the impact of tariffs.
The clothing manufacturer, which reports in U.S. dollars, says it earned US$137.9-million in the quarter ending June 29, up from US$58.4-million in the same quarter last year.
The Montreal-based company says its adjusted earnings worked out to US$145.9-million, up from US$124.7-million last year.
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It says adjusted earnings were 97 cents per diluted share, up from 74 cents per diluted share last year.
Net sales totalled US$918.5-million in the quarter, up from US$862.2-million in the period last year.
Gildan says in reaffirming its guidance after weighing the impact of tariffs along with the options available to it to mitigate the effects, including pricing and its flexible business model.