Gildan Activerwear reports Q1 earnings per share of 0.31 dollar

Gildan Activewear Inc. has said that its first quarter performance was largely in line with its expectations and the company is on track to attain its full year financial targets. Net earnings for the quarter were down to 0.31 dollar per share on a diluted basis, in the quarter. Net sales of 647.3 million dollars in the quarter, down 2.7 percent compared to the prior year reflecting a 3.2 percent increase in activewear sales and a 20.4 percent decline in the hosiery and underwear category.