HanesBrands Reports results, envisages to Sell U.S. Sheer Hosiery Business

The Winston-Salem, N.C.-based innerwear and activewear company — parent to brands such as Hanes, Champion, Bali, Playtex, Maidenform, L’eggs and Wonderbra, among others — kicked off earnings season Thursday morning as it revealed quarterly and full-year results before the market opened, improving on top and bottom lines, raising its long-term growth targets and revealing plans to sell additional businesses.

In addition to the share-repurchase program, HanesBrands said it plans to sell its U.S. Sheer Hosiery business for an undisclosed amount. The transaction, which the company anticipates will close sometime this year, is part of the group’s continued efforts to focus on areas of the business with the greatest growth potential.

HanesBrands said it expects the U.S. Sheer Hosiery business to generate about $60 million in sales.