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Gildan Reports Strong Second Quarter Results, Updates Its Full Year 2026 Guidance and Announces ...
The company will reinvest a significant portion in brand-building, marketing and product innovation after tariffs were ruled unconstitutional.
- On Thursday, Gildan Activewear Inc. announced it expects to receive US$220 million in tariff refunds following the U.S. Supreme Court's February decision overturning duties imposed by President Donald Trump.
- The Montreal-based company reported a US$50 million loss for the second quarter, compared with a US$137.9 million profit a year earlier, as tariff costs and integration expenses pressured margins.
- Gildan also 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.
- Rather than passing savings to customers, Gildan plans to reinvest a "significant" portion of the tariff refund into brand building, marketing, and product innovation.
- New 50% tariffs on goods moving from Canada to the U.S. take effect August 19, threatening the company's updated earnings forecast of US$4.65 to US$4.75 per share for 2026.
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Operation Southern Spear latest price tag is up to $820 million
The War Department has spent roughly $820 million during Operation Southern Spear, the U.S military’s mission to lethally target alleged drug smuggling vessels coming from Central and South America, which began nearly a year ago. U.S. Southern Command obligated $173.9 million for Operation Southern Spear during the second quarter of this year, a significant decrease from the previous quarter, in which they said they spent approximately $527.9 mi…
·Washington, United States
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Gildan's Clothing recorded a loss of US$50 million in its last quarter, compared to a profit of US$137.9 million a year ago. Montreal's apparel manufacturer also announced an update of its forecast for 2026 and the sale of HanesBrands Australia.
·Montreal, Canada
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Coverage Details
Total News Sources12
Leaning Left5Leaning Right4Center2Last UpdatedBias Distribution46% Left
Bias Distribution
- 46% of the sources lean Left
46% Left
L 46%
C 18%
R 36%
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