HBI’s new three-year plan, called Project Booster, will seek to accelerate worldwide omnichannel and global Champion growth, while cutting $150 million in costs annually and reinvesting $50 million of that savings into the initiative. Booster, which launched in Q1 with the layoff of 220 corporate employees, is ultimately expected to generate $300 million of incremental annual net cash from operations by 2020. About $100 million will come from savings in SG&A and cost of sales, with the other $200 million from working capital improvements, including inventory turns and A/P and A/R management. The Champion brand, unified worldwide by last year’s ... Log in to view full article.