By  on November 3, 2011

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.

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