The face-lift has been taking shape since the $4.5 billion corporation was spun off from Sara Lee in September 2006. Hanesbrands is now free to groom its brand portfolio,
which includes underwear, bras, casualwear and activewear for men and women bearing the Hanes, Playtex, Bali, Barely There, Wonderbra, Just My Size and Champion names, instead of relying Sara Lee to
dole out budgets.
Like its competitors, the innerwear giant is battling lackluster retail sales, department store consolidation and a shaky financial environment, which are resulting in depleted margins, increased markdowns and a glut of inventory. But despite major competition nipping at its heels, Hanesbrands is headed for a 3.1% sales gain to $1.15 million in the third-quarter, despite a 22.7% drop in income caused by higher-interest expenses associated with the spinoff.
advertisement
advertisement