Top 40 supplier Gildan Activewear (asi/56842) reported its net sales reached $715 million for the second quarter of 2017 ended July 2, up 3.8% year-over-year. The apparel manufacturer said its printwear sales totaled $480 million and increased 1.9% versus Q2 of 2016, while its branded apparel sales grew 8.1% year-over-year, reaching a total of $235 million. 

Gildan attributed the printwear segment’s growth to a $29 million sales contribution from its acquisitions of American Apparel in February and Alstyle Apparel (asi/34817) last year, as well as continued growth in international markets, particularly in Asia.

The company said its gains in branded apparel were due to a $17 million sales contribution from its acquisition of Montreal-based Peds Legwear Inc. last year, as well as strong growth in men’s underwear. The increase was partially offset, however, by lower global lifestyle and Gold Toe branded sock sales reflecting weakness in department stores and national chains, Gildan said.

Gildan updated its full-year guidance of adjusted diluted EPS to now be at the high end of the $1.60-$1.70 range on projected consolidated and segmented net sales growth which remains in the high-single-digit range. The company continues to expect earnings growth in 2017 to be weighted in the first half of the year as higher raw material costs are projected in the second half of 2017.

Counselor ranked Gildan Activewear as the ninth largest supplier in the industry, estimating the firm generated $150 million in 2016 North American promo product sales.