HanesBrands Inc. reported an almost 60 percent decline in third-quarter earnings Wednesday because of onetime charges and said it plans to raise prices in the U.S. next year.
For the three months ended Sept. 27, profits for the Winston-Salem, N.C.-based apparel maker fell 59.1 percent to $15.9 million, or 17 cents a diluted share, from $38.9 million, or 40 cents a share, last year. Third-quarter sales were flat at $1.15 billion compared with a year ago.
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?"