Why Hanesbrands Stock Is Soaring 22% Today
Shares of Hanesbrands (NYSE: HBI) were soaring 22% higher in morning trading Tuesday after the basic-apparel maker reported solid sales and earnings growth in the fourth quarter.
The results indicate Hanesbrands was perfectly positioned to capitalize on the health and wellness trends that developed in the wake of the coronavirus pandemic. Its basics brands like Playtex, Maidenform, and Wonderbra meshed well with the casual clothes consumers chose, as did its Champion brand.
Image source: Hanesbrands.
Source Fool.com