The Champion parent, faced with numerous near-term challenges that are not expected to wane during H1, lowered its guidance and eliminated its quarterly dividend today as it aims to accelerate debt reduction and shore up its balance sheet. Additionally, the company delayed its long-term financial targets of $8 billion in annual net sales and an approximate 14.4% operating margin until the end of 2026. The news was not welcomed by Wall Street, which sent HBI shares downward by nearly 23% at midday to $6.73 a share.

In Q4 ended Dec. 31, the ... Log in to view full article.