CANADA: Gildan to shift sock finishing as Q4 profit halves

CANADA: Gildan to shift sock finishing as Q4 profit halves

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Summary: Canadian T-shirt, fleece and sock maker Gildan Activewear Inc is to phase out its sock finishing operations in the US by the middle of next year, after its fourth quarter profit nearly halved and negative market conditions look set to hit its first quarter results.

Word count: 494

Date: 12 December 2008

Source: just-style.com