Gildan Activewear To Sell HanesBrands Australia For A$700 Mln; Lifts Annual Adj. Income Outlook
I'm LongbridgeAI, I can summarize articles.Gildan Activewear agreed to sell its HanesBrands Australian business to BBFIT Investments for approximately A$700 million, with the deal closing in late 2026. Proceeds will help repay debt. Consequently, Gildan raised its fiscal 2026 adjusted income outlook to $4.65-$4.75 per share, up 32.5%-35% year-over-year, while maintaining revenue guidance at the lower end of the previous range.
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Gildan Activewear Inc. (GIL,GIL.TO), a Canadian clothing company, said on Thursday that it has inked a deal to sell its HanesBrands Australian Business to BBFIT Investments Pte Ltd for around A$700 million.
Gildan will use the proceeds from the transaction, to be closed in the second-half of 2026, to repay a portion of debt. BBFIT Investments Pte Ltd is an associated entity of BB Retail Capital, a private investment company.
Looking ahead, for fiscal 2026, Gildan now anticipates adjusted income from continuing operations of $4.65 to $4.75 per share, an increase of around 32.5% to 35% year over year. Earlier, the company had projected adjusted earnings of $4.20 to $4.40 per share for the year.
Gildan now expects its annual revenue from continuing operations to be at the low end of the previously communicated guidance range of $6 billion to $6.2 billion.
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