Parnassus Comments on Hanesbrands

Guru stock highlight

Author's Avatar
Aug 09, 2022
  • A top detractor.
Article's Main Image

Hanesbrands (

HBI, Financial), a global manufacturer of inner and activewear, slid -30.1% in the quarter, reducing the Fund’s return by -0.4%. The company is facing an incrementally more-challenging global macro environment, with higher input and freight costs expected for the rest of the year. As such, management no longer expects a second half margin expansion, and now forecasts earnings to be at the low end of its prior annual guidance. Investors are also concerned that excess inventory across some of the company’s wholesale partners, like Walmart and Target, may lead to slower ordering, potential canceled orders and additional markdowns to balance inventory.


Jerome Dodson (Trades, Portfolio)'s Parnassus Endeavor Fund (Trades, Portfolio)'s second-quarter 2022 commentary.

Also check out:


I/we have no positions in any stocks mentioned, and have no plans to buy any new positions in the stocks mentioned within the next 72 hours. Click for the complete disclosure
0 / 5 (0 votes)
Author's Avatar

Request A Demo

Learn more about GuruFocus' key features, including All-In-One Screener, backtesting, 30-year financial, stock summary page, guru trades, insider trades, excel Add-in, google sheets and much more.

GuruFocus Screeners

Related Articles