Barington Capital Group L.P. fired the first volley in a public challenge to HBI over its waning stock price, penning a letter to chairman Ronald L. Nelson calling for a board shakeup, management changes and an overhaul of SG&A and its balance sheet. Barington chairman James Mitarotonda pins Hanes’ 51.6% decline in share price over the last year on poor management response to market challenges and mounting debt, noting a preference to chase market share and top line gains at the expense of protecting margins and reining in OpEx. The Barington ... Log in to view full article.