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Hanesbrands Stock Is Down 16.8%: What’s Driving the Decline?

Victoria Dean
Hanesbrands Stock Is Down 16.8%: What’s Driving the Decline?

On October 9, Hanesbrands (HBI) stock fell 16.8% to $17.39 on a year-to-date basis. Since its second-quarter earnings release on August 1, HBI stock has declined 3.2%. In addition to its earnings miss, investors have been concerned by Hanesbrands’ decision not to renew its C9 by Champion contract with Target (TGT).