HBI - Hanesbrands Is Not An Opportunity After Rumours Of $1 Billion Price For Champion
2024-05-26 16:03:56 ET
Summary
- Hanesbrands reports a recovery in profitability but faces revenue challenges in all segments, particularly with Champion brand.
- The company reaffirms its FY24 guidance but does not provide updates on the potential sale of Champion.
- The valuation of Hanesbrands suggests that the stock is still a Hold, with excessive multiples and challenges in the apparel industry.
Hanesbrands (HBI) is an apparel manufacturer. The company owns Hanes, Champion, and other brands.
In early April 2024 , I published an initiation coverage article on Hanesbrands with a Hold rating. The rating was based on the company's valuation, considering different turnaround scenarios and two potential valuations for the Champion brand, which the company is considering selling. ...
Hanesbrands Is Not An Opportunity After Rumours Of $1 Billion Price For Champion