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BRIEF-Gildan Activewear Provides Update Related To Covid-19

Published 2020-03-23, 08:07 a/m

March 23 (Reuters) - Gildan Activewear Inc GIL.TO :

* GILDAN ACTIVEWEAR PROVIDES UPDATE RELATED TO COVID-19

* GILDAN ACTIVEWEAR INC - STARTED TO SEE A MEANINGFUL DECELERATION IN DEMAND IN IMPRINTABLES CHANNEL

* GILDAN ACTIVEWEAR INC - COMPANY IS WITHDRAWING ITS Q1 AND FULL YEAR 2020 FINANCIAL GUIDANCE.

* GILDAN ACTIVEWEAR - EXPECT MULTITUDE OF TEMPORARY STORE CLOSURES AND SOCIAL DISTANCING MEASURES WILL ALSO CONTINUE TO SLOW RETAIL DEMAND

* GILDAN ACTIVEWEAR INC - AS A PRECAUTIONARY MEASURE ON MARCH 17, WE ELECTED TO DRAW DOWN ON REMAINING AVAILABLE PORTION OF OUR REVOLVING LONG-TERM BANK CREDIT FACILITY

* GILDAN ACTIVEWEAR INC - WITHDRAWING ITS Q1 AND FULL YEAR 2020 FINANCIAL GUIDANCE

* GILDAN ACTIVEWEAR INC - TEMPORARILY SUSPENDING PRODUCTION AT ALL OF ITS MANUFACTURING FACILITIES UNTIL MID-APRIL

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