Gildan Activewear Cuts Earnings Guidance 20% and Withdraws Future Outlook
Scotiabank analyst John Zamparo says Gildan missed sales expectations by 10%, cut this year's earnings guidance by 20% and withdrew future guidance.
Gildan Activewear's material decline in sales generation confirmed some investors' fears, says Scotiabank's John Zamparo. The analyst notes that the apparel company missed sales expectations by 10%, reduced this year's earnings guidance by 20%, and withdrew future guidance, "all attributed to 'a ra…