Retail bankruptcies and the closing of some 1,200 stores in...

Retail bankruptcies and the closing of some 1,200 stores in the U.S. in the past year affected Hanesbrands, the parent company of Champion, which reported results below expectations for the fourth quarter and the full financial year. The company's total revenues grew by 11.8 percent to $1.56 billion in the quarter, but sales of activewear went up by only 2.8 percent to $64.6 million, with an improved operating margin of 16.8 percent. Global sales under the Champion brand name accelerated to a 10 percent increase in the quarter, driven by gains in Europe and Asia. The acquisition of Pacific Brands and of the Champion business in Europe and Japan contributed to a 77.6 percent jump in the group's total sales outside the U.S. to $505 million.