The Globe and Mail reports in its Friday, Aug. 4, edition that Stifel analyst Martin Landry is sticking with his "buy" call for Gildan Activewear. The Globe's David Leeder writes in the Eye On Equities column that Mr. Landry's share target fell by $3 (U.S.) to $35 (U.S.). Analysts on average target the shares at $36.93 (U.S.). Mr. Landry says a notable shift in consumer patterns is having a significant impact on the outlook for Gildan. On Thursday, Gildan posted better-than-expected second quarter results. Revenues fell 6 per cent year-over-year to $840-million (U.S.), but exceeded both Mr. Landry's $833-million (U.S.) estimate and the consensus forecast of $818-million (U.S.). Adjusted earnings per share slid 27 per cent to 63 U.S. cents but topped the 61-U.S.-cent projection from both Mr. Landry and Street. However, Gildan trimmed its full-year 2024 guidance, expecting earnings per share in a range between $2.55 (U.S.) and $2.65 (U.S.), down from $3.11 (U.S.) previously. That change came with lower revenue expectations (flat to down low single digits growth versus low single digit increases previously) as it deals with "an unfavorable shift in product mix."