Hanesbrands stock rallies on hiked outlook

Hanesbrand Inc.’s
HBI,
-1.00%

stock rallied within the prolonged session Thursday after the apparel company hiked its outlook, and announced a seek for a brand new chief financial officer. Hanesbrands shares much as 8% after hours, following a 1% decline to shut at $7.95. The corporate said it expects fourth quarter sales to be “barely above” the highest end of its outlook range of $1.4 billion to $1.45 billion. The corporate also forecast fourth-quarter adjusted earnings of 4 cents to 11 cents a share. Analysts surveyed by FactSet expect earnings of 7cents a share on revenue of $1.42 billion, Hanesbrands also said CFO Michael Dastugue resigned, effective Feb. 28, 2023 for family reasons. Scott Lewis, Hanesbrand chief accounting officer, will function interim CFO until a successor is found.

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