By Connor Hart

Gildan Activewear logged higher profit and sales in the first quarter despite operating in what it called a challenging macroeconomic environment.

The Canadian apparel manufacturer posted a profit of $84.7 million, or 56 cents a share, for its three months ended March 30, compared with a profit of $78.7 million, or 47 cents a share, in last year's comparable quarter.

Adjusted per-share earnings came in at 59 cents, topping the 57 cents that analysts surveyed by FactSet expected.

Revenue increased 2.3%, to $711.7 million, in line with analyst models.

Activewear sales rose 9.3%, to $647.4 million. The gain was slightly offset by the company's hosiery and underwear segment, where sales fell 38% to $64.3 million.

Sales rose 2.4% and 10% in the U.S. and Canada, respectively. International sales, though, declined 2.5%.

Gildan backed its full-year outlook, calling for revenue growth in the mid-single digits and adjusted per-share earnings of $3.38 to $3.58. Analysts polled by FactSet expect sales of $3.41 billion, representing a 4.4% increase from last year, and adjusted earnings of $3.44 a share.

The company said its guide includes the impact of tariffs.

Shares fall 1.7%, to $42.17, in after-hours trading.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

April 29, 2025 17:25 ET (21:25 GMT)

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