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NEW YORK - Apparel maker Hanesbrands Inc. is scheduled to report third-quarter earnings after the market closes on Wednesday.
The maker of clothing brands including Hanes and Champion recorded stiff restructuring costs and a charge related to the Mervyns liquidation in the quarter. Meanwhile, the economic environment worsened during the period, and Hanesbrands shares fell about 22 percent during the quarter.
Still, analysts remain positive on the stock. In a note to investors last week, C.L. King & Associates analyst Scott Krasik said that while the consumer spending environment is deteriorating, "at the end of the day, Hanesbrands remains the best-positioned apparel company in our coverage universe to outperform its peers in a recessionary spending environment."
He rates the company "Strong Buy."
On average, analysts surveyed by Thomson Reuters predict quarterly profit of 54 cents per share on revenue of $1.12 billion.
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