Winston-Salem - Activewear giant HanesBrands has reported a 16% decrease in net sales for its first quarter, impacted by the sale of some of its US hosiery operations.
Overall, net sales were US$1.16 billion, down from $1.39 billion and at the midpoint of the company’s expected range. Net loss for the quarter was $39.1 million up from a loss of $34.4 million last year with the divestment of its Sheer Hosiery business offsetting the rise in innerwear market share.
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