Hanes Plummets as Champion Owner Announces a Business Review

(Bloomberg) -- Hanesbrands Inc. shares plunged as much as 16% after the company reported a review of its business and a slump in sales at a time when everyone’s wearing sweatpants.As consumers stay away from sporting events and college bookstores, the maker of Champion athletic gear saw revenue for the U.S. activewear segment decline 41% during the third quarter, the company said in a statement. Even excluding the C9 brand, which Target Corp. stopped selling in January, activewear sales...