Investor disappointment with third-quarter projections overshadowed a strong second-quarter performance by Hanesbrands Inc. Wednesday, sending shares down more than 9 percent amid uncertainty about the future of cotton prices.
The Winston-Salem, N.C.-based owner of trademarks including Hanes, Champion and Playtex stuck by its full-year guidance but said third-quarter earnings “could increase as much as 30 percent over last year’s 63 cents” a share. That would put the low end of EPS expectations at 82 cents, 9 cents below the analyst consensus estimate of 91 cents.
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?"