BUZZ-Gildan Activewear Inc: Biggest drop in 5 months

Wed Jul 27, 2016 2:21pm EDT
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** Canadian apparel maker's shares down as much as 6.6 pct at C$38.20 - biggest intraday percentage drop in 5 months

** Trims upper end of 2016 earnings forecast by 5 cents to $1.55; lower end unchanged at $1.50

** Says now expects 2016 sales of about $2.65 bln, compared with previous forecast in excess of $2.6 bln, due to lower fleece sales under Printwear business in Q3

** Company also says expecting "current softness in the retail environment" to continue

** Q2 earnings lower than expected as expenses rise

** Up to Tuesday's close, stock had risen about 4 pct this year