Hanesbrands Faces Pressure From Activist Barington Capital Group, Which Wants To See Costs and Debt Cut

August 9, 2023

Barington Capital Group, an activist investment firm, is urging Hanesbrands, a well-known apparel maker, to cut costs, generate cash, and potentially select a new CEO in response to the company’s shrinking market capitalization. Hanesbrands, famous for its basic T-shirts, underwear, and bras, has seen its stock drop by about 17% this year due to soft sales and declining profits. Barington is calling for changes, including a reduction in expenses, debt reduction, improved inventory practices, and the addition of new board members with relevant skills and experience, to turn the company around.

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