Hanesbrands stock rallies on hiked outlook

Hanesbrand Inc.’s
HBI,
-1.00%
stock rallied in the extended session Thursday after the apparel company hiked its outlook, and announced a search for a new chief financial officer. Hanesbrands shares much as 8% after hours, following a 1% decline to close at $7.95. The company said it expects fourth quarter sales to be “slightly above” the top end of its outlook range of $1.4 billion to $1.45 billion. The company 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 serve as interim CFO until a successor is found.