Would thought this news woulda got more attention?
$Hanesbrands(HBI.US$ Hanesbrands has agreed to sell the Champion brand to Authentic Brands Group for $1.2 billion. The deal could increase to $1.5 billion if a contingent cash consideration of up to $300 million is fulfilled. This requires the brand to reach performance goals after the sale.
Hanesbrands notes that it will receive net proceeds of $900 million from this deal. The company says that it intends to use all of the funds gained from this sale to pay down its debts.
What This Means for HBI Stock
Hanesbrands says that the sale of Champion will take place in the second half of 2024. The company also intends to list it as discontinued operations in its filings starting in Q2 of the year. It will also update its guidance to adjust for the sale when it releases its Q2 results.
Hanesbrands notes that it will receive net proceeds of $900 million from this deal. The company says that it intends to use all of the funds gained from this sale to pay down its debts.
What This Means for HBI Stock
Hanesbrands says that the sale of Champion will take place in the second half of 2024. The company also intends to list it as discontinued operations in its filings starting in Q2 of the year. It will also update its guidance to adjust for the sale when it releases its Q2 results.
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YYDW : Wow, is this gonna be big?
TrytosaveabitOP YYDW: It will definitely make future quarterly reports look good! Hehehe! I really thought it woulda got way more attention? Maybe it will be a delayed reaction after the jobs numbers and non farm payroll numbers? GL
YYDW TrytosaveabitOP: Looks like it is, it's accumulating
TrytosaveabitOP YYDW: Yeah im hopeful that it will eventually breakout to the upside?