Gildan acquires HanesBrands in $2.2 billion deal
The $2.2 billion deal was valued at $4.4 billion when including HanesBrands debts as Gildan said it will create a "global basic apparel leader with access to iconic innerwear brands and a low cost manufacturing."
"Today is a historic moment in Gildan's journey as we look to join forces with HanesBrands. We are extremely pleased to welcome the HanesBrands' team to the Gildan family," President and CEO of Gildan, Glenn J Chamandy said in a press release.
After the transaction closes Gildan intends to review strategic alternatives for Hanesbrands. The shareholders of HanesBrands will receive 0.102 of Gildan and $0.80 in cash for each share of HanesBrands common stock.
The agreement is expected to close in late 2025 or early 2026.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Atlantic
24 minutes ago
- Atlantic
The Damage to Economic Data May Already Be Done
If you have been closely following the ongoing Bureau of Labor Statistics story—in which Donald Trump fired then-Commissioner Erika McEntarfer after being displeased by the bureau's July jobs report and selected the Heritage Foundation economist E. J. Antoni to succeed her—you will have heard an unusual consensus about the airtight political independence of the agency and the people who work there. Among BLS employees, including former Commissioner William Beach, whom Trump appointed in his first term, a fierce loyalty to the data is bone deep. Antoni does not appear to share that spirit of independence, nor does he seem to have a great deal of talent for economics or statistics, according to economists from across the political spectrum. Even so, his power to avoid future reports that embarrass Trump appears to be limited. In an interview recorded on August 4, before his nomination, Antoni proposed eliminating the monthly release of employment data, but the administration has already insisted that that won't happen. BLS data may not be completely tamper-proof, but they're pretty close. The sharpest economic minds in this country, both inside and outside the bureau, pay meticulous attention to the deepest layers of the data, many strata below the headline-unemployment rate and change-in-payroll employment. Deceiving them all would be very hard to do. Unfortunately, that might not matter. Antoni doesn't have to manipulate any data to undermine the reliability of the government's economic statistics. That damage might already have been done. I was a career press official at the Department of Labor who prepared a series of labor secretaries for their TV appearances early on the first Friday morning of every month. The release of the jobs report—'Jobs Day'—is a marquee event in this little corner of the federal government, when the press and the financial world's attention is fixed on the plaza of the Frances Perkins Building, in Washington. I lasted only one Jobs Day into the tenure of Trump's labor secretary, Lori Chavez-DeRemer, before taking DOGE's buyout deal. I decided to leave the government in large part out of fear of precisely the kind of demands for oaths of political loyalty that were being threatened then and are now being implicitly exacted on every career civil servant at the BLS. Brian Klaas: Will Trump get his Potemkin statistics? Most labor secretaries, understanding the power of jobs data to create or destroy value in the financial markets, have taken a sober and restrained approach to these press appearances. Then there's Chavez-DeRemer. One of her prime talking points has been that 'native-born workers have accounted for all job gains since Inauguration Day.' Every single one. Not a single Russian surgeon or Canadian blackjack dealer got a job after January 20 of this year. In fact, the BLS makes no such assertion. The claim is absurd on its face—the kind of political catnip that a Cabinet secretary in the Trump administration is expected to put forward without shame, as a kind of homage to the boss. The existence of an independent BLS commissioner is predicated on the idea that someone needs to talk about the labor market who is never tempted to say such things. It's a public service, primarily for investors. Might a member of the Cabinet say something iffy as a result of her political loyalties? That's not ideal, but here's someone else you can listen to who doesn't have that problem. Until now, this arrangement allowed the president's representative to attempt to convince the public of the effectiveness of his priorities while reinforcing the objective, nonpartisan genesis of the underlying data. If the BLS commissioner is now every bit the political animal that the labor secretary is, then what is the purpose of the BLS commissioner? I am not a statistician; perhaps Antoni can mandate methodological deviations that bias the numbers in Trump's preferred direction. But I don't think he needs to. Confidence in the bureau is already badly weakened. This is about more than just our trust as consumers of the jobs report, because we are also its producers. To create its reports, the BLS needs businesses and citizens to take the time to respond to surveys about changes to their payroll and about who is going to work or looking for a job in their household. Even before Trump won the election last November, the trend in survey responsiveness was declining, posing an existential threat to the robustness of the data. The appointment of a transparent partisan to the head of the BLS is unlikely to improve matters. Why should we take the time to report our economic circumstances to the government if we believe the government isn't interested in the truth? If fewer Americans think that contributing to the creation of these reports is a valuable use of their time, the civil servants at the BLS will struggle to produce reliable numbers, regardless of what policies Antoni puts into place. The damage to our understanding of the economy would be far more consequential than a month of bad jobs numbers.
Yahoo
an hour ago
- Yahoo
Avicanna Reports Q2 2025
TORONTO, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Avicanna Inc. ('Avicanna' or 'Company') (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products is pleased to announce and report the results of Q2 2025. Management Commentary: 'Q2 marked another milestone in Avicanna's journey, fueled by advancements in our pipeline and deeper engagement with the Canadian medical community. In Canada, we delivered growth across multiple commercial channels, underscoring the strength of our proprietary, high-margin portfolio. Achieving positive adjusted EBITDA for the first half of 2025 reflects the financial discipline and operational focus that continue to drive our performance. These results reinforce our ability to execute our strategy and position us for both domestic and international scale-up' stated Aras Azadian, CEO at Avicanna. Q2 2025 Financial Highlights: Revenue: The Company generated revenue of $6.16 million and $12.48 million for the three- and six-month periods ended June 30, 2025, representing a 1% increase and a 1% decrease, respectively, compared to the corresponding periods in 2024. Gross Profit and Margin: Gross profit for the second quarter was $3.13 million, with a six-month total of $6.73 million, translating to gross margins of 51% and 54%, respectively—up from 47% in the prior-year periods. This improvement was primarily driven by increased service and licensing revenue from international markets. Adjusted EBITDA: For the second quarter, the Company reported an adjusted EBITDA loss of $0.25 million and an adjusted EBITDA gain of $0.18 million for the six-month period. This marks a notable improvement from the same periods in 2024, when adjusted EBITDA losses were $0.44 million and $0.42 million, respectively. The improvement reflects both reduced operating expenses and enhanced gross margins. Other Q2 2025 Corporate Highlights: Canadian commercial advancements: The Company completed the second quarter with 50 commercial SKUs and 147 commercial listings representing a 19% increase in total SKUs and a 9% growth in total listings from Q1 2025. The Company sold 50,789 units during the second quarter, a 21% increase against the comparable period in 2024. Avicanna Announced Sponsorship of Pilot Phase II Clinical Study on Osteoarthritis Pain: The multicenter, blinded, randomized placebo-controlled investigator-initiated study is led by Dr. Hance Clarke and conducted at University Health Network. The study is to analyze effectiveness of Avicanna's proprietary oral cannabis extracts for osteoarthritic pain and is Avicanna's first placebo controlled, blinded randomized multicenter trial ('RCT'). The study is funded by a Canadian Institutes of Health Research grant and sponsored by Avicanna, which is providing its proprietary CBD and THC capsules produced under Good Manufacturing Practices for the trial. Symposium on Cannabinoid-based Medicine in June 2025: The Symposium, which was held at the MaRS Discovery District in Toronto, brought key opinion leaders and health care providers to explore cannabinoid-based R&D, medicine, and clinical adoption. The Symposium, which was limited to health care practitioners and researchers, covered a range of topics including emerging evidence and practical clinical applications of cannabinoid-based medicine and featured key opinion leaders, clinicians, researchers, and scientists from various academic, research and clinical organizations and hospitals and industry. Avicanna announced US Patent and Trademark Office issuance of new patent covering topical cannabinoid compositions for clear skin: The USPTO issued patent, No. US 12,343,315 B2, covering a topical gel formulation comprised of cannabinoids in combination with other agents in reference to its potential for treating and preventing skin diseases and conditions including, but not limited to, acne, wrinkles, rosacea and erythema. About Avicanna: Avicanna is a commercial-stage international biopharmaceutical company focused on the advancement and commercialization of cannabinoid-based products and formulations for the global medical and pharmaceutical market segments. Avicanna has an established scientific platform including R&D and clinical development leading to the commercialization of more than thirty proprietary, evidence-based finished products and supporting four commercial stage business pillars. Medical Cannabis formulary (RHO Phyto™): The formulary offers a diverse range of proprietary products including oral, sublingual, topical, and transdermal deliveries with varying ratios of cannabinoids, supported by ongoing patient and medical community education. RHO Phyto is an established brand in Canada currently available nationwide across several channels and expanding into new international markets. Medical cannabis care platform ( is a medical cannabis care platform formed with the aim to better serve medical cannabis patients' needs and enhance the medical cannabis patients' journey. is operated by Northern Green Canada Inc. and features a diverse portfolio of products and bilingual pharmacist-led patient support programs. also provides specialty services to distinct patient groups such as veterans and collaborates with public and private payers for adjudication and reimbursement. provides educational resources to the medical community to facilitate the incorporation of medical cannabis into health care regimens. Pharmaceutical pipeline: Leveraging Avicanna's scientific platform, vertical integration, and real-world evidence, Avicanna has developed a pipeline of proprietary, indication-specific cannabinoid-based candidates that are in various stages of clinical development. These cannabinoid-based candidates aim to address unmet needs in the areas of dermatology, chronic pain, and various neurological disorders. Active pharmaceutical ingredients (Aureus Santa Marta™): Active pharmaceutical ingredients supplied by the Company's majority owned subsidiary Santa Marta Golden Hemp SAS ('SMGH') is a commercial-stage business dedicated to providing various forms of high-quality CBD, THC and CBG to the Company's international partners for use in the development and production of food, cosmetics, medical, and pharmaceutical products. SMGH also forms part of the Company's supply chain and is a source of reliable input products for its consumer retail, medical cannabis, and pharmaceutical products globally. SOURCE Avicanna Inc. Stay Connected For more information about Avicanna, visit our website or contact Ivana Maric by email at info@ Cautionary Note Regarding Forward-Looking Information and Statements This news release contains 'forward-looking information' within the meaning of applicable securities laws. Forward-looking information contained in this news release may be identified by the use of words such as, 'may', 'would', 'could', 'will', 'likely', 'expect', 'anticipate', 'believe', 'intend', 'plan', 'forecast', 'project', 'estimate', 'outlook' and other similar expressions. Forward-looking information contained in this news release includes, without limitation, statements related to the Offering, the use of proceeds of the Offering, the receipt of all approvals of the Toronto Stock Exchange in connection with the Offering, statements with respect to the Company's future business operations, the opinions or beliefs of management and future business goals. Although the Company believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ materially from those projected in the forward-looking information. Such risks and uncertainties include, but are not limited to current and future market conditions, including the market price of the common shares of the Company, and the risk factors set out in the Company's annual information form dated April 11, 2025, filed with the Canadian securities regulators and available under the Company's profile on SEDAR+ at The statements in this news release are made as of the date of this release. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
UPI
an hour ago
- UPI
July PPI: U.S. wholesale prices rose 0.9%, much more than expected
Pedestrians walk near the entrance to the New York Stock Exchange on Wall Street on Wednesday, February 12, 2025 in New York City. US stocks were mostly lower on Wednesday after hotter-than-expected January inflation reading from the Consumer Price Index. Photo by John Angelillo/UPI | License Photo Aug. 14 (UPI) -- The threat of inflation to the U.S. economy may be looming after a Bureau of Labor Statistics report Thursday showed a jump in wholesale prices The Producer Price Index for final demand rose a seasonally adjusted 0.9% in July, a surge absent in June when such prices stayed flat after having risen only 0.4% in May. Even more noticeable is the index for the total of final demand prices without adjustment, which saw a 3.3% increase for the 12 months ending in July, the largest 12-month upswing since rising 3.4% in February. Within the final demand spectrum, three-quarters of the advance comes from the index for final demand services, such as transportation and warehousing, which rose 1.1%, the largest such advance since rising to 1.3% in March of 2022. Prices for final demand goods increased 0.7% when measured with the inclusion of foods, energy, and trade services. Without those items, the rise is just a slightly smaller 0.6%, the largest increase since a 0.9% leap that also took place in March of 2022. The index for final demand services also rose, moving 1.1% up in July, the biggest jump since that clearly rough fiscal month of March in 2022, when such services rose 1.3%. A deeper dive into the price windup showed 30% of the July jump in final demand services is due to the margins for machinery and equipment wholesaling, which increased 3.8%. Additionally, 40% of the broad-based increase in July can be credited to the index for final demand foods, up 1.4%, and among the foods, prices for fresh and dry vegetables soared a whopping 38.9% percent. Another major player in the overall July increase comes from the diesel fuel index, which ascended 11.8% and is responsible for more than 50% of the month's increase in prices for processed goods for intermediate demand. The index for raw milk moved up 9.1%, accountable for more than 30% of the July increase in prices for unprocessed goods for intermediate demand. The Producer Price Index's data includes key details on overall prices, and is combined with information taken from the Consumer Price Index to fill out the Commerce Department's personal consumption expenditures price index, the government's chief inflation forecasting scale. The Consumer Price Index had only ticked upwards a seasonally adjusted 0.2% in July and 2.7% on a 12-month basis, a bit less than of an impact than expected with the Trump administration's tariffs in action.
