Hanesbrands posts profit, but sales slump
03/08/2009
Activewear manufacturer Hanesbrands has reported a quarterly profit that was above estimates. The company said its efforts to cut costs had helped redress the effects of slower sales.
Net income fell to $30.6 million in the second quarter ended July 4, from $57.3 million last year.
It said it expected outerwear sales trends to improve in the third quarter of the year.
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