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COVID-19 Wipes Out $181M in Hanesbrands’ First-Quarter Revenue

The Rivet 50 is calling for nominations for leaders in the denim industry in 5 categories: design, influencer, leadership, sustainability and supply chain. Nominations close on May 23.

With sales and profits plummeting in the first quarter from the pandemic, Hanesbrands is pivoting deeply into non-core manufacturing. In a Nutshell: Hanesbrands Inc. said Thursday that first-quarter results were significantly affected by the COVID-19 pandemic, estimating the late-quarter impact reduced revenue by approximately $181 million, operating profit by approximately $86 million, and earnings per…

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