Shares of Hanesbrands (NYSE: HBI) fell 15.1% last month, according to data provided by S&P Global market Intelligence. Sometimes, stocks make sudden moves based on a surprisingly good or bad earnings report, and other times, stocks move for reasons that don't make a lot of sense. The drop in Hanesbrands stock last month can be chalked up to the latter.
The company reported a solid second quarter at the beginning of August, with the innerwear segment performing in line with management's expectations. But the star of the show continues to be the growth in the activewear segment, where the Champion brand is on fire. If that wasn't enough to encourage investors, management also reaffirmed its previous guidance, calling for growth on the top and bottom line for the full year.
IMAGE SOURCE: HANESBRANDS.