HBI’s Champion business continued to underperform in the first quarter, falling 17% worldwide, including a 22% drop in the U.S. and a 12% falloff internationally that would have been down 7% constant currency. Soft consumer demand in the U.S. and efforts to clean up distribution hurt domestic sales, while Europe, Japan, non-U.S. Americas and Australia were bright spots overseas. China re-orders and sell-in suffered from elevated channel inventories left over from Covid shut downs last year, but retail sell-through improved low-double digits.

Overall, Hanesbrands’ Q1 bottom line plunged $34,404,000 into the red, ... Log in to view full article.