In 1964, the P.H. Hanes Knitting Company and the Shamrock Hosiery Mills merged to create the P.H. Hanes & Company. These two clothing manufactures broke sales records after the merger, with a ten percent profit increase during the first year. The merger produced a large firm with public stock that intended to increase the value of stock dependent upon the expected increase in consumer demand for clothing that occurred for the rest of the decade.