HanesBrands Remains Sharply Lower After Early Sell-Off

(RTTNews) - After falling sharply early in the session, shares of HanesBrands Inc. (HBI) continue to see substantial weakness in late-day trading on Thursday. HanesBrands is currently down by 5.2 percent after hitting a five-year intraday low.

The early sell-off by HanesBrands came after the apparel maker reported third quarter earnings that matched analyst estimates but weaker than expected revenues. HanesBrands also provided disappointing full-year guidance.

HanesBrands reported third quarter adjusted earnings of $0.55 per share on revenues of $1.85 billion, while analysts had expected the company to earn $0.55 per share on revenues of $1.87 billion.