Gildan Activewear falls after Jehoshaphat discloses short

Gildan Activewear

16/06/2026 15:49

** U.S.-listed shares of Canadian apparel maker Gildan Activewear GIL.TO, GIL.N down 13% at $53.74
** Jehoshaphat Research says it is short on GIL, noting that the firm's "true" organic growth is negative, contrasting sharply with its appearance of revenue growth
** Short-seller also says co has been “stuffing” distributors and customers with product far in excess of underlying demand; adds acquisition of Hanes presents additional challenges
** "We believe this misleading picture of organic growth started to form around 2024, following the mass resignation of the GIL board of directors" - Jehoshaphat Research
** Gildan Activewear did not immediately respond to Reuters request for comment
** GIL's current market value is $11.47 billion, as per LSEG data
** As of last close, stock down ~5% YTD

(Reporting by Sanskriti Shekhar in Bengaluru )
((Sanskriti.Shekhar@thomsonreuters.com))