Hanesbrands hit by Champion sale
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 3 April 2024
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:08.0 | Good morning. Today is Wednesday, April 3rd. I'm Julie Morgan. |
| 0:12.0 | Champion has a new home. April 3rd, I'm Julie Morgan. |
| 0:12.9 | Champion has a new home. |
| 0:14.8 | Costco is getting into the weight loss business and Grab and Go is going away at some |
| 0:19.7 | Amazon grocery stores. Authentic Brands has agreed to buy Champion from Haynes Brands for a little over $1 billion. |
| 0:28.0 | According to Women's Wear Daily, the deal happened within the last week and is expected to close sometime in late May or early June. |
| 0:36.7 | HBI fell more than 10% on Tuesday on the report. |
| 0:41.1 | Last September, Hainesbrands confirmed it was putting the champion business up for sale. |
| 0:46.3 | But even with slumping sales and dwindling collaborations, Champion garnered the attention of several suitors. |
| 0:53.2 | Haynes Brands was seeking $1.4 billion for the company. |
| 0:57.8 | Sources cited by Women's Wear Daily say thousands of jobs could be lost |
| 1:02.3 | as a result of the transaction as |
| 1:04.2 | champion will likely outsource much of the manufacturing design, logistics, and |
| 1:09.2 | operations of the label's various components. |
| 1:13.0 | Costco has started offering its members in the US access to a weight loss program |
| 1:18.0 | through health care marketplace provider Sesame. |
| 1:22.0 | The service will cost $175 every three months. |
| 1:26.0 | The renewable program includes a video consultation |
| 1:29.2 | with a weight loss doctor or specialist, |
| 1:31.6 | as well as a GLP1 or weight loss prescription. doctor or |
| 1:33.4 | specialist, |
... |
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