'Champion Sale Process Enters Final Phase: Source' - Woman'sWearDaily; Hanesbrands Shares Moves Higher
Portfolio Pulse from Benzinga Newsdesk
HanesBrands Inc. is nearing the end of the sale process for its Champion brand, with bids due by February 21. Goldman Sachs & Co. and Evercore are managing the sale. Potential buyers include Authentic Brands Group, Marquee Brands, WHP Global, and G-III Apparel Group. Despite a 19% decline in Champion's sales last quarter, interest remains due to the brand's strong consumer resonance. HanesBrands faced pressure from Barington Capital Group and is looking to turn around Champion's performance.
January 18, 2024 | 8:56 pm
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POSITIVE IMPACT
HanesBrands Inc. is in the final phase of selling its Champion brand, with bids due soon. Interest from notable buyers could positively impact HBI's stock in the short term.
The sale of Champion is a significant strategic move for HanesBrands, and the interest from reputable buyers suggests a potentially favorable sale price, which could lead to a positive reaction in HBI's stock price in the short term. The importance is high due to the potential impact on the company's financials and strategic direction. Confidence is not at 100 due to the unpredictable nature of final bid outcomes and market reactions.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100