Hanesbrands Shares Drop On Quarterly Miss, Weak Outlook

Hanesbrands Inc. shares dropped in the extended session Thursday after the apparel maker's quarterly results and outlook fell short of Wall Street expectations. Hanesbrands shares fell 12% to $25.90 after hours. The company reported fourth-quarter earnings of 44 cents a share on revenue of $1.41 billion. Analysts surveyed by FactSet had estimated 46 cents a share on revenue of $1.53 billion. Hanesbrands forecast adjusted 2016 earnings of $1.85 to $1.91 a share on revenue of $5.8 billion to $5.9 billion, while analysts expect $1.90 a share on revenue of $6.03 billion.