Leading apparel retailer, Hanesbrands Inc.’s HBI subsidiary, Champion Athleticwear and Sports Authority together unveiled a new line of performance and lifestyle apparel called Champion Gear. Sports Authority is the largest full-line sporting goods retailer in the United States and Puerto Rico.
The Champion Gear apparel line features the Champion Vapor Technology, which offers seamless construction and quick drying. The apparel line includes tanks, tees, pants, shorts and more in exclusive patterns and colors.
The new collection is likely to be available on the official website of Sports Authority and at its locations nationwide in July, just in time for the back-to school shopping season.
The Champion brand was added to Hanesbrands with the acquisition of the licensed logo apparel seller Gear for Sports in 2010. Since its acquisition, the brand has contributed to the company’s revenues. Hanesbrands makes strategic acquisitions to boost its portfolio. On Apr 6, 2015, Hanesbrands completed the acquisition of the collegiate apparel maker Knights Apparel.
Hanesbrands continues its Innovate-to-Elevate strategy (which focuses on value-added, higher-priced and high-margin items that can be supplied at lower costs). The strategy has helped the company to increase its adjusted operating profit margin and generate significant cumulative cash from operations.
Hanesbrands currently carries a Zacks Rank #2 (Buy). Other stocks in the retail apparel sector worth considering include Columbia Sports Inc. COLM, Oxford Industries Inc. OXM and Perry Ellis International Inc. PERY. While Perry Ellis sports a Zacks Rank #1 (Strong Buy), Columbia Sports and Oxford Industries carry a Zacks Rank #2.
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