Home / Knowledge / News / Apparel/Garments / HanesBrands Q1'FY14 adjusted EPS surges 49%
HanesBrands Q1'FY14 adjusted EPS surges 49%
25
Apr '14
HanesBrands, a leading marketer of everyday basic apparel under world-class brands, announced that acquisition benefits and strong operating performance drove record first-quarter financial results.
 
For the first-quarter 2014, net sales increased 12 percent to $1.06 billion, adjusted operating profit excluding actions increased 34 percent to $114 million, and adjusted EPS excluding actions increased 49 percent to $0.76. Primary contributors to the record quarterly results in a difficult economic environment were increased margins driven by the company’s Innovate-to-Elevate strategy, strong Activewear segment results led by performance of the Champion brand, increased supply chain operating efficiencies, tight control of selling, general and administrative costs, and successful integration of Maidenform Brands, Inc., which was acquired in October 2013.
 
As a result of strong first-quarter 2014 results, the company has raised its 2014 full-year financial guidance. Increased expectations include adjusted operating profit of $665 million to $685 million, up $25 million; adjusted EPS of $4.80 to $5.00, up $0.20; and net cash from operating activities of $475 million to $575 million, up $25 million. The company continues to expect net sales for the year of slightly less than $5.1 billion.
 
“We had very strong first-quarter profitability and have raised our full-year profit guidance as a result of our continued confidence in our Innovate-to-Elevate strategy and our progress with the integration of Maidenform,” Hanes Chairman and Chief Executive Officer Richard A. Noll said. “Our Activewear segment achieved outstanding results across channels, particularly with our Champion brand at retail.”
 
Net sales in the first quarter of $1.06 billion increased by $114 million compared with the year-ago quarter as a result of the acquisition of Maidenform and Activewear segment growth. Excluding the Maidenform acquisition, net sales on a constant currency basis were flat despite the difficult retail environment exacerbated by extreme weather.
 
Adjusted EPS for the quarter increased to $0.76 from $0.51 in 2013. On a GAAP basis, diluted EPS was $0.41 in the quarter versus $0.51 a year ago.
 
Adjusted operating profit for the quarter increased to $114 million, compared with $85 million a year ago. On a GAAP basis, operating profit for the quarter was $72 million versus $85 million a year ago.
 
Click here to view full results.
 

HanesBrands


Must ReadView All

Apparel/Garments | On 30th Apr 2016

Britain keen on new ventures in textiles and garment

British High Commissioner to India Sir Dominic Asquith, has said that ...

Apparel/Garments | On 30th Apr 2016

‘India’s apparel sector needs to revisit policies’

Apparel Export Promotion Council (AEPC)’s Additional Secretary...

Textiles | On 30th Apr 2016

Bangladesh spinners wary of another gas price hike

Bangladeshi cotton spinners have expressed concern that they may lose ...

Interviews View All

James A. Hayward
Applied DNA Sciences

How crucial is the need to authenticate the quality of textiles used in...

Engineer Sohail Lashari
Lahore Chamber of Commerce and Industry, LCCI

Should banning import and export of certain textile products be...

Walter Roggenstein
Kelheim Fibres GmbH

What technological innovations are taking place in the specialty fibres...

Carlos Richer
Richer Investment

Mr. Carlos Richer is the Director of Richer Investment, Diaper Consulting...

Leen Osterloh
Trutzschler Nonwovens

Mr. Leen Osterloh is post graduate in Economics from University of...

Mr. Johan Berlin
Investkonsult Sweden AB

Mr. Johan Berlin is the majority shareholder and Managing Director of...

Jay Ramrakhiani
Occasions Elegance Wear

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
April 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search