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Sydnee Gatewood
Sydnee Gatewood
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Jerome Dodson Comments on Hanesbrands

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October 27, 2020 | About:
Hanesbrands (NYSE:HBI), a leading manufacturer of undergarments and athletic apparel, added 78 basis points to the Fund's return, as its stock rose from $11.29 to $15.75 for a total return of 40.8%. The company's key underwear category returned to strong growth trends during the quarter, with management noting that demand levels in May and June were higher than the equivalent pre-pandemic periods. The company also gained market share throughout the quarter due to larger shelf-space allocation for socks and underwear at Walmart. Finally, consumers continued to shop online, driving online sales growth of more than 70% globally, with triple-digit growth at some of the company's largest online retailers.

From Jerome Dodson (Trades, Portfolio)'s Parnassus Endeavor Fund (Trades, Portfolio) third-quarter 2020 shareholder letter.

About the author:

Sydnee Gatewood
I am the editorial director at GuruFocus. I have a BA in journalism and a MA in mass communications from Texas Tech University. I have lived in Texas most of my life, but also have roots in New Mexico and Colorado. Follow me on Twitter! @gurusydneerg

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