Home / Knowledge / News / Apparel/Garments / HanesBrands ups guidance to reflect DBApparel acquisition
HanesBrands ups guidance to reflect DBApparel acquisition
04
Sep '14
To reflect the added contributions from the DBA acquisition, US innerwear apparel retailer HanesBrands issued a new full-year 2014 guidance.

“The new guidance includes increases for net sales, adjusted operating profit and adjusted EPS, while guidance for adjusted performance measures exclude charges related to the acquisitions of DBApparel and Maidenform Brands”, Hanes said.

Hanes new guidance range for net sales is between $5.350 billion to $5.375 billion, up from previous guidance of approximately $5.075 billion.

It also raised the guidance for adjusted operating profit by $25 million to a range of $735 million to $755 million, up from the previous guidance range of $710 million to $730 million.

Hanes also increased its guidance for interest expense and other expense by $5 million to approximately $90 million to reflect the DBA purchase.

While the DBA acquisition is expected to have a slightly positive effect on the company’s corporate tax rate, we continue to anticipate the 2014 rate to be in the low teens, the innerwear brand said.

Adjusted EPS guidance for 2014 has been hiked by $0.20 to a range of $5.40 to $5.60, up from $5.20 to $5.40, reflecting the DBA contributions to sales, adjusted operating profit and the corporate tax rate, partially offset by higher interest expense.

Hanes continues to expect net cash from operating activities to be $500 million to $600 million for the fiscal year.

It expects that any cash generated in 2014 by DBA is expected to be substantially offset by cash closing expenses for the acquisition.

Hanes has raised its full-year earnings guidance twice previously in 2014 despite the continuation of a generally muted consumer environment.

Most recently, the company raised EPS guidance in conjunction with reporting second-quarter financial results on July 23, 2014, to reflect the margin-enhancing benefits of Hanes’ Innovate-to-Elevate strategy and strong efficiency performance of its self-owned global supply chain.

“Our key retailers experienced a slow start to the back-to-school season but have seen continued momentum build through August,” Hanes COO Gerald Evans said.

He continued by saying, “Our Innovate-to-Elevate platforms, particularly X-Temp comfort cooling underwear, t-shirts and socks, are performing very well, creating value for consumers, retailers and shareholders.”

It also expects slightly more than 103 million weighted average shares outstanding in 2014. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 27th Feb 2017

Surat to get a mega textile park, centre of excellence

The textiles ministry is positively working on the proposals for a...

Apparel/Garments | On 27th Feb 2017

Myanmar sets up new committee to revise minimum wage

The Government of Myanmar has set up a new committee, replacing an...

Courtesy: Invista

Textiles | On 27th Feb 2017

Invista explores alternatives for apparel & textile trade

Invista, one of the world's largest integrated producers of chemical...

Interviews View All

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giorgio Mantovani
Corman S.p.A

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

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Igor Chapurin
Chapurin

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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