Gildan Plunges Most Since 2008 As ‘Cash Machine’ Unit Slumps

Customized T-shirts appear to be the first thing to go in times of economic uncertainty.

Shares of apparel giant Gildan Activewear Inc. plunged by a third Friday after the company pared its guidance for revenue and profit due to a slowdown in its print-wear business. The unit sells basic clothing to wholesalers who slap logos on them for sports teams or events.

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