Hanesbrands closing hosiery plant

WINSTON-SALEM, N.C. Multiple media outlets reported Tuesday that the Winston-Salem company is shutting down its Hanes Mill Road plant because of steady drops in sheer-hosiery demand.

Hanesbrands said 240 manufacturing employees will be laid off and 80 distribution employees will be reassigned to another plant.

The company says changing fashion tastes and workplace dress codes have slowed sheer hosiery production to the point that it's no longer feasible to run the plant. Sheer hosiery sales fell 14 percent last year and are down another 18 percent so far for 2009.

Hanesbrands' share price was down 3.87 percent to $22.62 per share at 2 p.m. Tuesday.

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