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GAAP EPS drives up 37% at HanesBrands in Q4FY17
06 Feb '17
1 min read
Earnings per share (EPS) on a GAAP basis drove up 37 per cent year on year to $0.41 in the three months ended January 2, 2017 at apparel retailer HanesBrands, while full fiscal EPS surged 32 per cent to $1.40. Adjusted EPS grew 20 per cent at $0.53 in the reporting quarter, but adjusted EPS in fiscal 2017 rose slower at 11 per cent to $1.85.
In the fourth quarter of fiscal 2017, net sales expanded 12 per cent year on year to $1.58 billion and full fiscal net sales increased 5 per cent to $6.03 billion.
According to the retailer, sales growth was driven by acquisitions, but was impacted by a weaker than expected retail environment in the US in the fourth quarter.
HanesBrands generated a record $606 million in net cash from operations in fiscal 2017 and its inventory declined $132 million as of January 2, 2017 from the end of the earlier fiscal, when excluding $158 million of fiscal end inventory, added as part of acquisitions in the fiscal. (AR)
In the fourth quarter of fiscal 2017, net sales expanded 12 per cent year on year to $1.58 billion and full fiscal net sales increased 5 per cent to $6.03 billion.
According to the retailer, sales growth was driven by acquisitions, but was impacted by a weaker than expected retail environment in the US in the fourth quarter.
HanesBrands generated a record $606 million in net cash from operations in fiscal 2017 and its inventory declined $132 million as of January 2, 2017 from the end of the earlier fiscal, when excluding $158 million of fiscal end inventory, added as part of acquisitions in the fiscal. (AR)
Fibre2Fashion News Desk – India
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