By  on May 4, 2014

Gildan Activewear Inc. increased its second-quarter profits at a nearly double-digit pace despite higher cotton costs that drove down its gross margin.

The Montreal-based knitwear and underwear firm also said that it will build a new textile facility in the province of Guanacaste in northwestern Costa Rica, close to its sewing plants in Nicaragua and positioned to allow for duty- and quota-free access to the major markets it serves in the U.S.

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