Turnarounds are tough. Multi-year plans often don't pan out as they get derailed by unexpected events. Progress can be painstakingly slow. Some companies end up in perpetual turnaround mode, never quite figuring out how to return to their former glory.

Apparel manufacturer Hanesbrands (NYSE: HBI) and media giant Warner Bros. Discovery (NASDAQ: WBD) are both trying to stage comebacks. For Hanesbrands, a tough post-pandemic economy is wrecking demand. For Warner Bros. Discovery, the age of streaming is pressuring the lucrative linear TV business. These stocks are risky, but both have the potential to soar in the coming years.

The post-pandemic period has not been kind to apparel manufacturer Hanesbrands. Too much inventory, both on its own balance sheet and among its customers, hurt sales, and inflation drove up costs. The company is working to right the ship, but that won't be a quick process.

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Source Fool.com