WINSTON-SALEM, N.C. - HanesBrands (NYSE:HBI), a global leader in the manufacture of everyday apparel, has announced the renewal of its partnership with Texas Christian University (TCU) for an additional five years. This extension reaffirms HanesBrands' exclusive rights to produce and distribute TCU Horned Frog fan apparel in the mass retail market.
The agreement, facilitated by TCU's exclusive licensing agent, CLC, ensures that HanesBrands will continue to supply TCU fans, students, and alumni with licensed merchandise. HanesBrands is known for its broad selection, quality, and competitive price points, which have been well received by the TCU community.
TCU stands among over two dozen prestigious institutions that have entrusted HanesBrands with exclusive mass retail partnerships.
This list includes notable universities like Florida State, Penn State, the University of Michigan, Clemson University, and Auburn University. Beyond these, HanesBrands also holds primary apparel partnerships with other leading schools such as the University of North Carolina at Chapel Hill, the University of Cincinnati, The Ohio State University, and the University of Georgia.
John Fryer, HanesBrands President of Licensed Sports Apparel, expressed the company's pride in continuing to support the TCU community, praising the school's vibrant spirit and athletic excellence. Ryan Peck, TCU Deputy Athletics Director for External Affairs, reciprocated the sentiment, acknowledging the strong demand for TCU apparel nationwide and the value of the ongoing association with HanesBrands.
HanesBrands' reputation for quality is supported by its portfolio of well-known brands, including Hanes, Champion, Alternative Apparel, and ComfortWash. The company employs 48,000 associates across roughly 30 countries and continues to focus on delivering long-term growth that benefits all stakeholders.
This news is based on a press release statement from HanesBrands.
InvestingPro Insights
HanesBrands (NYSE:HBI) remains a key player in the licensed sports apparel market, as evidenced by its extended partnership with Texas Christian University. The company's strategic focus on collegiate fan apparel is backed by solid financial indicators. With a market capitalization of $1.74 billion, HanesBrands is a significant entity in the retail space. Although revenue has seen a decline of 10.64% over the last twelve months as of Q1 2024, the company's gross profit margin remains strong at 36.13%, indicating effective cost management relative to its sales.
Investors looking at HBI's stock should note the company's price movements, which have been quite volatile, a factor worth considering for those with a lower risk tolerance. On a positive note, the company's liquid assets exceed its short-term obligations, which suggests that HanesBrands is in a good position to meet its immediate financial liabilities. Additionally, analysts have revised their earnings estimates upwards for the upcoming period, reflecting optimism about the company's future performance. These InvestingPro Tips highlight the company's potential for growth and stability, even as it navigates a challenging retail landscape.
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