The cost of a significant internal restructuring project contributed to Gildan Activewear Inc. reporting Thursday a 26.1 percent decline in fourth-quarter net income to $54.9 million.
The Montreal apparel manufacturer took $11 million in restructuring and acquisition charges in the quarter.
Chief among the restricting initiatives was combining its printwear and branded apparel businesses into one divisional operating structure for marketing, merchandising, sales, distribution and administrative functions. Eric Lehman, president of branded apparel, is leaving the company June 30.
The combination of the two operating busin…
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