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Article Date: August 2022
Word Count: 579

Hanesbrands Lowers Guidance as Results Disappoint

Net income slipped 28% in the second quarter to $92,101,000 from $128,676,000 on 14% lower revenues of $1,513,467,000 down from $1,751,311,000 including a $100 million top line and $35 million bottom line impact from the previously reported ransomware attack. The attack limited order fulfillment for about three weeks and also affected global supply chains, but has now been contained, HBI avers, and there is no current impact on operations. HBI’s Full Potential plan accounted for about $6 million in charges during the quarter, and is making sourcing and distribution improvements that ... Log in to view full article.


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