Home / Knowledge / News / Apparel/Garments / Hanes updates guidance to fit acquisitions' share
Hanes updates guidance to fit acquisitions' share
06
Jun '16
Courtesy: Hanes Brands
Courtesy: Hanes Brands
Basic innerwear and activewear retailer Hanes Brands has revised its initial guidance for 2016 to accommodate contribution from its pending acquisitions – Champion Europe (about to close late June) and Pacific Brands (about to close July) – in conjunction with investor meetings.

The company's diluted EPS on a GAAP basis is expected to be in the range of $1.51-1.57 as compared to $1.63-1.73 to accommodate acquisition related charges. It expects the acquisitions to contribute approximately $800 million in net sales annually, revising its net sales to $6.15-6.25 billion as compared to previous net sales guidance of $5.8-5.9 billion.

Due to timing of the expected acquisition closings and seasonality of the businesses, in 2016 Hanes expects to benefit from approximately one-third of annualised profitability while incurring approximately three-fourths of annualised interest expense.

“The acquisitions of Champion Europe and Pacific Brands will make meaningful contributions to our ongoing success and growth, and we are looking forward to adding these operations and their strong management teams to our worldwide portfolio,” Gerald Evans Jr, COO of Hanes commented.

“Our sell more, spend less and make acquisitions strategy continues to create value,” he added. (MCJ)

Fibre2Fashion News Desk - India

Must ReadView All

Courtesy: India ITME

Textiles | On 8th Dec 2016

Industry needs to create 1cr jobs in 3yrs: Kavita Gupta

Sharing several initiatives laid out by the government in R&D,...

Textiles | On 8th Dec 2016

Package will boost made-ups sector: SIMA

The reforms package approved by the Union Cabinet to boost employment ...

Textiles | On 8th Dec 2016

Cabinet okays reforms to boost jobs in made-ups sector

The Union Cabinet chaired by prime minister Narendra Modi has given...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
December 2016

December 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search