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Hanesbrands Considers Sale of Champion Business. An Activist Has Been Seeking Change.

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Last month, Barington Capital asked the consumer goods company to revamp its leadership team and slash costs, inventory, and debt.

Hanesbrands stock was rising after the consumer goods company said it is evaluating strategic options for its global Champion business, including a potential sale.

In a news release, the company, referring to the Champion business, said it “will consider a broad range of alternatives to maximize shareholder value” including a potential sale, other strategic transaction, or continuing to operate the brand as part of the larger company. That said, there is no assurance that the assessment process will result in a transaction or other outcome, management said. No timetable for the completion of the process has been set, and it may be terminated at any time, according to the company.

 

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