Home / Knowledge / News / Apparel/Garments / HanesBrands Q4 EPS beats company guidance
HanesBrands Q4 EPS beats company guidance
30
Jan '14
HanesBrands, a leading marketer of everyday basic apparel under world-class brands, reported record financial results in 2013 for net sales, operating profit and profit margin, cash flow, and diluted earnings per share.

The company closed the year with a strong fourth quarter and has substantially raised its 2014 full-year EPS guidance.

Net sales in the fourth quarter increased 12 percent to $1.29 billion compared with the year-ago quarter. The acquisition of Maidenform Brands, Inc., contributed 9 percentage points of sales growth in the quarter, while strong results for the remainder of the company contributed 3 percentage points of growth. For the full year, net sales increased 2 percent to $4.63 billion, while on a constant-currency basis, net sales increased 3 percent.

Adjusted EPS for the year increased 49 percent to $3.91 from $2.62 in 2012. For the fourth quarter, adjusted EPS of $0.98 beat company guidance.

Planned increases in advertising and debt-reduction costs muted fourth-quarter performance compared with the year-ago quarter’s adjusted EPS of $1.07. On a GAAP basis, diluted EPS was $0.32 in the quarter versus $0.78 a year ago and was $3.25 for the year, up from $2.32 a year ago.

The company earned record adjusted operating profit of $596 million in 2013 for an adjusted operating margin of 12.9 percent, up 320 basis points. Improved profitability resulted from lower cotton costs and benefits of the company’s Innovate-to-Elevate initiatives.

On a GAAP basis, operating profit for the quarter was $72 million, compared with $153 million a year ago, and for full-year 2013 was $515 million, up from $440 million, for an operating margin of 11.1 percent compared with 9.7 percent.

For 2014, Hanes has increased its full-year guidance to expected net sales of slightly less than $5.1 billion; adjusted operating profit of $640 million to $660 million; adjusted EPS of $4.60 to $4.80; and net cash from operating activities of $450 million to $550 million.

“We had an outstanding year in 2013 with four consecutive quarters of strong performance. We achieved record results and reached significant milestones, including generating nearly $600 million of cash from operations,” Hanes Chairman and Chief Executive Officer Richard A. Noll said.

“We are raising our 2014 earnings guidance because we are increasingly confident that the momentum of our Innovate-to-Elevate strategy will deliver even better results. The combination of our brand power, low-cost supply chain and innovation platforms is generating value and growth opportunities.”

Click here to read full results

HanesBrands

Must ReadView All

Textiles | On 20th Feb 2017

UK textile & apparel exports up 7.05% in 2016: UKFT

The exports of apparel and textiles from the UK have increased by...

Textiles | On 20th Feb 2017

Himatsingka Seide incorporates subsidiary in Europe

Himatsingka Seide Ltd, one of the largest producers of home textiles...

Courtesy: Green Initiatives

Apparel/Garments | On 20th Feb 2017

Green Initiatives launches Re:Form to end textile waste

Green Initiatives, a non-government institution, has launched...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Marten Alkhagen
Swerea IVF AB

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search