Net income dipped 20% in the second quarter to $128,676,000 from $161,181,000, hit by a negative $43.8 million swing in profits from the discontinued European Innerwear business, as revenues increased 13% to $1,751,311,000 from $1,543,083,000 and were up 15% from 2019. Last year’s top line included a windfall of $614 million in PPE sales, which did not recur, and excluding those sales, revenues would have been up 88% year-over-year. In the first quarter since HBI announced its Full Potential strategic plan, restructuring charges were $18.7 million against $32.3 million in Q2 last year.

Activewear segment sales jumped 140% to $404.2 million ... Log in to view full article.