Hanes Brands Inc. has seen its net income swell by 32 % during the first quarter. The main reason for this increase in income was the increase in prices of its products. In fact, the company claimed to have had to pay 60% more for cotton this year. Quoted prices were an increase from 52 cents a pound to 83 cents this term.
The company started to increase its prices since February, and is expected to keep doing so. The main products which will experience a price increase are likely to be socks and underwear. Want more of the Latest News
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