Corp 1000

: Hanesbrands stock surges, as potential sale of Champion business is being considered

Shares of Hanesbrands Inc. HBI jumped 2.2% in premarket trading Tuesday, after the clothes and underwear seller said it is considering a broad range of alternatives for its Champion athletic-apparel business, including a potential sale. The company said it has not set a timetable to complete its review of alternatives, and there is no assurance that the review will result in any transaction. “In recent years, the executive leadership team has implemented significant structural improvements within Champion that have resulted in greater distinction between the company’s innerwear and activewear businesses,” said Chairman Ronald Nelson. “With this in mind, and after careful consideration, we have commenced a comprehensive review of strategic options for the global Champion business.” The stock has tumbled 29.9% year to date through Monday, while the S&P 500 SPX has gained 16.0%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

Previous post : Microsoft to lift dividend by 10%, though new implied yield still among the lowest for Dow dividend payers
Next post : Apellis Pharmaceuticals shares rally as competing eye treatment fails to impress analysts