A reduction in expenses of more than $100 million allowed Hanesbrands Inc. to report a higher-than-expected profit despite lower sales in the first quarter.
In the three months ended March 30, the Winston-Salem, N.C.-based manufacturer of knitwear, innerwear and activewear posted net income of $51.4 million, or 51 cents a diluted share, 1 cent above the analyst consensus estimate of 50 cents. In the prior-year quarter, the firm reported a loss of $26.8 million, or 27 cents, 3 cents of which was attributed to discontinued operations.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"