Steeper prices helped Hanesbrands Inc. overcome increased cotton costs in the third quarter, turning an unexpectedly small sales gain into much better-than-projected profits — a handy trick that other apparel producers no doubt will try to replicate.
Net income increased 48.1 percent to $90.8 million, or 91 cents a diluted share, from $61.3 million, or 63 cents, a year earlier. Earnings came in 11 cents ahead of Wall Street expectations.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)