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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.