logo
Plus   Neg
Share
Email

HanesBrands Remains Sharply Lower After Early Sell-Off

After falling sharply early in the session, shares of HanesBrands Inc. (HBI) continue to see substantial weakness in late-day trading on Thursday. HanesBrands is currently down by 5.2 percent after hitting a five-year intraday low.

The early sell-off by HanesBrands came after the apparel maker reported third quarter earnings that matched analyst estimates but weaker than expected revenues. HanesBrands also provided disappointing full-year guidance.

HanesBrands reported third quarter adjusted earnings of $0.55 per share on revenues of $1.85 billion, while analysts had expected the company to earn $0.55 per share on revenues of $1.87 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
In view of an expected growth in online shopping in the upcoming holiday season, Walmart announced its plan to hire more than 20,000 seasonal associates in its eCommerce fulfillment centers across the country. The company offers a starting hourly rate ranging from $15.75 up to $23.75 based on location, position and schedule. Tour operator TUI AG Tuesday said Summer 2020 and Winter 2020/21 capacity reduced as a result of recent volatile changes in travel restrictions amid Covid-19 pandemic. The company further announced the launch of Global Realignment Programme, aiming to permanently reduce overhead cost base by 30%. The program potentially impacts 8,000 roles. Home improvement retailer Lowe's Companies Inc. plans to install pickup lockers at all U.S. stores aiming to improve contactless delivery for online buyers amid worsening Covid-19 spread. The "Buy Online Pickup in Store" self-service lockers at its more than 1,700 stores will be available by the end of March 2021. In most major metro markets, the online pickup option will be installed by Thanksgiv
RELATED NEWS
Follow RTT