Gildan Activewear Q2 profits slip 9 percent

Gildan Activewear reported its net profit for Q2 decreased on Thursday. Revenues increased by 5 percent from the same period last year.

The company's net profit for Q2 was 99.7 million dollars, down from 109 million dollars a year earlier. Revenues climbed to 801.6 million dollars. Compared to 14 percent a year ago, the profit margin of the company slipped to 12 percent.

Gildan Activewear (TSE: GIL) is a manufacturer and marketer of branded clothing, including undecorated blank activewear such as t-shirts, sport shirts and fleeces, which are subsequently decorated by screen printing companies with designs and logos. The company also supplies branded and private label athletic, casual and dress socks to retail companies in the U.S. and was founded in 1984.