MONTREAL — Gildan Activewear Inc. reported a loss of US$50 million in its latest quarter compared with a profit of US$137.9 million a year ago as it updated its 2026 guidance and announced the sale of HanesBrands Australia.
The Montreal-based clothing maker, which keeps its books in U.S. dollars, says the loss amounted to 27 cents US per share for the quarter ended June 28, compared with a profit of 91 cents US per share a year earlier.
On an adjusted basis, Gildan says it earned US$1.28 per diluted share from continuing operations in its latest quarter, up from 97 cents US per diluted share in the same quarter last year.
Net sales totalled US$1.58 billion for the quarter, up from US$918.5 million a year earlier.
The company says it has reached a deal to sell HanesBrands Australia to BBFIT Investments Pte Ltd. for approximately US$490 million, with the transaction expected to close in the second half of 2026.
Gildan says it now expects its adjusted diluted earnings per share for 2026 to be in the range of US$4.65 to US$4.75, up from its previous forecast of US$4.20 to US$4.40.
This report by The Canadian Press was first published July 30, 2026.
