HanesBrands, a US-based global marketer of branded everyday basic apparel, reported only a 1.3% decline in its net sales to $1.73bn during Q2, and net income for the quarter rose to $161.8m from $149.5m.
Fat Face is on the verge of being taken over by its lenders, that include banks and debt funds, in a debt-for-equity swap designed to drastically reduce the firm’s borrowings and help it weather the coronavirus storm.
PayPal Holdings Inc said on Thursday it was pledging $530 million to support black and minority-owned businesses in the United States and foster diversity, amid worldwide protests over racial injustice.
After the retirement of previous chief executive officer Gerald W. Evans Jr. was announced in March, HanesBrands has announced Stephen B. Bratspies as the company's new CEO and board member, effective August 3.
China's exports unexpectedly rose in April for the first time this year as factories raced to make up for lost sales due to the coronavirus pandemic, but a big fall in imports signalled more trouble ahead.
The North Carolina-based owner of brands including Hanes and Champion reported a Q1 loss on Thursday, as a stronger-than-expected performance early in the quarter was undermined by the coronavirus pandemic.
The owner of the Topshop and Dorothy Perkins chains has furloughed the majority of its staff as, like the rest of the retail sector, it continues its fight for survival in the face of the coronavirus crisis.