Hanesbrands Reveals 10% Sales Drop in Q1 Report, Misses on Revenue and EPS
Like many other U.S. companies, Hanesbrands Inc. (NYSE: HBI) started 2020 with dynamic, positive sales before running headlong into the economic meat grinder of the coronavirus pandemic, as shown in the first-quarter 2020 financial results it released this morning.
The apparel company, which owns numerous familiar brands such as Hanes, Bali, Maidenform, Sheer Energy, L'eggs, and Beefy-T, among others, sustained an approximate 10% decline in both innerwear and outerwear sales, while its revenue and earnings per share (EPS) came up short of analyst forecasts.
Image source: Hanesbrands Inc.
Source Fool.com