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BRIEF-Gildan Updates Guidance To Reflect Expected Charge

Published 2019-03-26, 05:11 p/m
© Reuters.  BRIEF-Gildan Updates Guidance To Reflect Expected Charge

March 26 (Reuters) - Gildan Activewear Inc GIL.TO :

* GILDAN UPDATES GUIDANCE TO REFLECT ANTICIPATED CHARGE RELATED TO HERITAGE DISTRIBUTOR WIND DOWN OF OPERATIONS

* SEES Q1 2019 ADJUSTED EARNINGS PER SHARE $0.14 TO $0.16

* EXPECTS TO TAKE A CHARGE OF APPROXIMATELY $19 TO $23 MILLION IN Q1 OF 2019,

* SEES FY 2019 GAAP EARNINGS PER SHARE $1.80 TO $1.90

* GILDAN - RECEIVER APPOINTED TO ADMINISTER HERITAGE BUSINESS FILED MOTION FOR APPROVAL OF WIND DOWN OF HERITAGE'S OPERATIONS, SALE OF ASSETS BY LIQUIDATION

* GILDAN ACTIVEWEAR - REAFFIRMING 2019 FULL YEAR GUIDANCE OF PROJECTED SALES GROWTH IN MID-SINGLE DIGIT RANGE

* SEES FY 2019 ADJUSTED DILUTED EPS TO BE IN RANGE OF $1.90 TO $2.00

* Q1 EARNINGS PER SHARE VIEW $0.25 -- REFINITIV IBES DATA

* FY2019 EARNINGS PER SHARE VIEW $2.07 -- REFINITIV IBES DATA

* SALES GUIDANCE FOR Q1 REMAINS UNCHANGED

* GILDAN - CHARGE RELATED TO HERITAGE ESTIMATED TO BE ABOUT $0.09 TO $0.11/SHARE, WHICH WAS NOT PROJECTED IN 2019 GUIDANCE PROVIDED ON FEBRUARY 21

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