The plunge in Gildan Activewear (GIL -28.8%) shares accelerates, after the clothing maker's...

|About: Gildan Activewear Inc. (GIL)|By:, SA News Editor

The plunge in Gildan Activewear (GIL -28.8%) shares accelerates, after the clothing maker's warning of an FQ1 loss of $0.40/share due to high cotton prices and anticipated lower activewear sales volumes on top of its FQ4 15% profit drop. Shares of rival Hanesbrands (HBI -5%) also slide.