HanesBrands (HBI) says management held discussions with Barington

HanesBrands (NYSE: HBI) today issued the following statement in response to a letter issued by Barington Capital:

The HanesBrands Board of Directors and management team are committed to moving the Company forward with a clear priority to deliver sustainable value creation for shareholders. We regularly engage with shareholders to understand their perspectives and to share ours. Consistent with this practice, members of HanesBrands’ management team have held discussions with Barington over the past year, and the Chairman of our Board engaged with Barington in recent weeks, prior to Barington publicly issuing its letter.

The Board and management team believe initiatives that are being executed as part of the Company’s Full Potential plan will unlock significant opportunities, which we look forward to discussing later this week as part of our second quarter 2023 earnings report. We are also, however, open-minded with regard to additional paths to improve performance and create value.

HanesBrands’ Board actively oversees the development and execution of our strategy, operations and capital allocation decisions, in collaboration with the management team. The Board and management team are deeply experienced in areas relevant to our strategy and portfolio, including among other things, apparel, global manufacturing and supply chain management, retail, e-commerce, branding and marketing. Further, the Board is committed to ongoing refreshment and having the right mix of expertise and diversity, as demonstrated by the addition of three independent directors to our Board over the last four years.

We will continue to act in the best interests of the Company and all HanesBrands shareholders.

You May Also Be Interested In

• Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
• OBOOK Holdings posts $18.8M net loss as OwlPay Harbor volume rises
• Morgan Stanley course-corrects their semiconductor equipment outlook on demand