Home / Knowledge / News / Apparel/Garments / Hanes inks double-digit growth in three straight quarters
Hanes inks double-digit growth in three straight quarters
01
Nov '14
NYSE-listed and global marketer of everyday basic apparel HanesBrands said it has delivered three consecutive quarters of double-digit growth in net sales, adjusted operating profit and adjusted EPS.

The innerwear and garment marketer said third-quarter of 2014 results were aided by acquisition-related sales and profit contributions, modest base sales growth led by innovative products, and significant efficiency gains from global supply chain operations.

Alongside, HanesBrands also raised its full-year adjusted EPS guidance for the third time this year, based on quarterly results, despite, what it calls a continued environment of restrained consumer spending.

For the third fiscal quarter ended September 27, 2014, net sales increased 17 percent year-on-year to $1.40 billion, while adjusted operating profit excluding actions surged 23 percent to $217 million, and adjusted diluted EPS excluding actions zoomed 41 percent to $1.73.

Hanes clarified that unless noted, all consolidated measures and comparisons are adjusted to exclude third-quarter 2014 pretax charges of $63 million related to the acquisitions of DBApparel and Maidenform Brands, Inc., and other actions.

Net sales rose in each business segment at Hanes. Maidenform contributed $115 million and DBApparel contributed $81 million in the third quarter of 2014. Excluding acquisition contributions, sales on a constant currency basis, went up by 1 percent versus the year-ago quarter.

Strong global supply chain performance and Innovate-to-Elevate drove a 100-basis-point improvement in adjusted operating profit margin year-over-year in the third quarter of 2014, excluding DBApparel. Overall, including DBA, adjusted operating margin increased 70 basis points.

CEO Richard Noll said, “Our business continues to perform very well, particularly in an uncertain consumer environment and we have delivered more earnings in the first three quarters of 2014 than we did all of last year.”

Hanes completed the integration of Maidenform within one year of closing the acquisition. Now onwards, Maidenform brand results will be part of its core business in its Innerwear, International and Direct to Consumer segments.

Hanes informed that it remains on schedule for capturing synergies from the acquisition and integration, including ramp up of internalized production of select Maidenform intimate apparel styles in Hanes’ self-owned supply chain.

Hanes closed on the acquisition of DBApparel, a leading marketer of intimate apparel and underwear in Europe, from Sun Capital Partners, Inc., on August 29, 2014.

Hanes has begun cross-company integration planning for DBA and expects to create significant synergies by applying Hanes’ Innovate-to-Elevate strategy in Europe and leveraging its primarily self-owned global supply chain.

In the third quarter of 2014, innerwear net sales increased 16 percent from a year ago quarter, as a result of Maidenform acquisition, while its base business was up slightly compared with a year ago and operating profit increased 29 percent year-on-year on acquisition benefits.


Must ReadView All

May 31 deadline for registration of chemicals under REACH

Textiles | On 23rd May 2018

May 31 deadline for registration of chemicals under REACH

May 31 is the final deadline for companies to register all chemicals...

US cotton production projected to decline in 2018: USDA

Textiles | On 23rd May 2018

US cotton production projected to decline in 2018: USDA

US cotton production is forecast at 19.5 million bales, nearly 7 per...

Pakistan's textile exports up 8.13% in July-April FY18

Textiles | On 23rd May 2018

Pakistan's textile exports up 8.13% in July-April FY18

The value of textile and garment exports from Pakistan increased by...

Interviews View All

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Igor Chapurin
Chapurin

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

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search