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Hanesbrands -10% after mixed Q2, Target contract loss

Aug. 01, 2018 8:17 AM ETHanesbrands Inc. (HBI) StockHBIBy: Clark Schultz, SA News Editor36 Comments
  • Hanesbrands (NYSE:HBI) falls sharply in early trading after the company posts a mixed Q2 report.
  • Guidance from Hanesbrands arrived just a hair above expectations. The company expects Q3 sales of $1.85B to $1.90B vs. $1.88B consensus and EPS of $0.54 to $0.57 vs. $0.56 consensus.
  • The headline event of the day may be that Target doesn't plan to renew a C9 by Champion activewear apparel contract that expires in January of 2020.
  • Shares of HBI are down 10.38% in premarket trading to $19.95.
  • Previously: Hanesbrands misses by $0.01, beats on revenue (Aug. 1)

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