Net income dropped 44% to $81.6 million in the first quarter from $144.3 million prior as net sales decreased 10% to $702.9 million from $774.9 million, including 12% lower Activewear sales at $587.8 million, lapping post-pandemic inventory replenishments at U.S. distributors. While domestic POS remains down year over year, it began to show sequential improvement in the quarter. Hosiery and underwear increased 7% to $115.1 million on positive sock sales in the mass channel and lifestyle brand customers. By region, U.S. sales were down 8% to $625.1 million, while Canada was ... Log in to view full article.