Under Activist Pressure, Hanesbrands May Shop Champion
HBI will evaluate strategic options for its global Champion business, which has under performed in recent quarters, a month after Barington Capital Group called for a more draconian restructuring than the company’s Full Potential plan. While Hanesbrands’ announcement did not reference Barington, it acknowledged that maximizing shareholder value may require a sale of Champion or another strategic transaction. Earlier this month, HBI licensed the Champion brand to G-III Apparel Group for outerwear, and a licensing powerhouse like Authentic Brands Group would likely be very interested in such an iconic brand. HBI ... Log in to view full article.