HanesBrands Initiates First Half of Planned $300 Million Reduction of Long-Term Debt in 2012
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In May, the company announced that it would remove itself from the private label industry and sell off the European branch of its imagewear market in order to improve cost control. HanesBrands said it would refocus its imagewear operations toward branded printwear, which includes the Hanes and Champion labels, expecting sales of approximately $150 million in 2013. In 2011, the company's outerwear business, which included Hanes Imagewear, saw a 9 percent decrease in sales. The company has not yet said what would happen with the Outer Banks unit, which it owns and expects to divest.
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- Companies:
- All American Awards
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- Outer Banks
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