HanesBrands, Penn State Extend Apparel Partnership

HanesBrands Inc HBI and Penn State signed a multi-year extension of their current apparel partnership, giving HBI exclusive rights in the mass retail channel. The financial terms were not disclosed.
The global apparel company, which owns the Champion and Hanes brands, has a decades-long partnership with Penn State.
Penn State joins the University of Michigan, Clemson, Auburn, N.C. State and more than two dozen other schools that have exclusive mass retail partnerships with HBI.
In addition to the mass retail channel, the partnership includes collaborative retail activations marking key rivalries and events.
"In addition to our partnership in the mass retail channel, iconic Champion apparel will be available to Nittany Lion fans on campus and around the world," said John Fryer, HanesBrands President of Licensed Sports Apparel.
Price Action: HBI shares are trading higher by 0.37% at $4.06 on the last check Monday.