MONTREAL (AP) _ Gildan Activewear Inc. (GIL) on Thursday reported a second-quarter loss of $249.7 million, after reporting a profit in the same period a year earlier.
The Montreal-based company said it had a loss of $1.26 per share. Losses, adjusted for one-time gains and costs, were 99 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 29 cents per share.
The apparel maker posted revenue of $229.7 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $257.7 million.
Gildan shares have decreased 39% since the beginning of the year. The stock has decreased 55% in the last 12 months.