Home / Knowledge / News / Apparel/Garments / HanesBrands Q2 net sales hike 12% to $1.34bn
HanesBrands Q2 net sales hike 12% to $1.34bn
24
Jul '14
HanesBrands, a leading marketer of everyday basic apparel under world-class brands, announced that acquisition benefits, strong Activewear performance, and increased operating efficiencies drove record second-quarter financial results. Despite a restrained consumer-spending environment, the company again raised its full-year adjusted EPS guidance. 
 
Highlights:
-Second Consecutive Quarter of Record Results Driven by Acquisition Benefits, Activewear Performance, and Supply Chain Manufacturing Execution 
-Excluding Actions, Net Sales up 12%, Operating Profit up 27% and EPS up 44% 
-Full-Year Adjusted EPS Guidance Increased to a Range of $5.20 to $5.40, an increase of $0.40 from the previous range of $4.80 to $5.00 
 
For the second-quarter ended June 28, 2014, net sales increased 12 percent to $1.34 billion, adjusted operating profit excluding actions increased 27 percent to $231 million, and adjusted diluted EPS excluding actions increased 44 percent to $1.71.
 
Primary contributors to the record quarterly results despite a continuing uncertain economic environment were increased margins and operating profit as a result of the company’s Innovate-to-Elevate strategy; strong Activewear segment results; increased supply chain manufacturing 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 second-quarter 2014 results, the company has raised its 2014 full-year financial guidance. Increased full-year expectations include adjusted EPS of $5.20 to $5.40, up $0.40; adjusted operating profit of $710 million to $730 million, up $45 million; and net cash from operating activities of $500 million to $600 million, up $25 million. The company has refined its expectations for net sales for the year to approximately $5.075 billion. 
 
Our record first-half results are a testament to the value we are creating through our Innovate-to-Elevate, self-owned supply chain, and acquisition strategies, Hanes Chief Executive Officer Richard A. Noll said. We remain confident in our business model and our performance momentum. We increased our operating profit margin by 200 basis points in the first half, and we raised our full-year EPS guidance for the second quarter in succession.
 
Click here to view more results.
 

HanesBrands

Must ReadView All

Courtesy: conservativehome.com

Textiles | On 24th Jun 2016

Britain set to leave EU; India prepared for consequences

Britain is set to be the first country to leave the EU since its...

Apparel/Garments | On 24th Jun 2016

TEA appeals to PM to forge FTA with Britain

On the heels of Britain voting to exit the European Union, the...

Textiles | On 24th Jun 2016

Now, govt tries to link textiles sector with tourism

The government has said concrete steps are being taken to set up...

Interviews View All

Amrit Sethia
SOIE

What are the emerging trends in the intimatewear category for women in...

Milind Khandwe
Hindoostan Innovation Centre

Which areas of innovation is the Hindustan Innovation Centre (HIC) focused ...

Amit Jain
Shingora Textiles Ltd

What benchmarks in design and production need to be met in the manufacture ...

Kevin Nelson
TissueGen

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Robert Brunner
Devereux

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

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
june 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search