Hanesbrands Inc. said earnings tripled in the first quarter, boosted by cost-cutting initiatives that offset weak sales in a tough retail environment.
For the three months ended March 29, earnings reached $36 million, or 38 cents a diluted share, up from $12 million, or 12 cents, in the year-ago period. Excluding one-time items, earnings were 42 cents, up from 15 cents last year. Sales for the quarter fell 5 percent to $987.8 million from $1.04 billion, as a result of a pull back in consumer spending.
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?"