Home / Knowledge / News / Apparel/Garments / 'This year is playing out consistent with our expectations' – Mr Noll
'This year is playing out consistent with our expectations' – Mr Noll
30
Oct '09
Hanesbrands Inc., one of the world's largest apparel essentials companies, reported results for the 2009 third quarter and announced expected net shelf-space gains for 2010.

The company increased earnings and profit margins in the third quarter and reduced debt.Third-quarter sales declined, in line with the company's stated expectations.

- Q3 EPS of $0.43, up 153 percent; EPS excluding actions of $0.63, up 21 percent.
- Q3 sales of $1.06 billion, down 8 percent.
- Year-to-date debt reduction of $134 million.
- 2010 incremental sales of approximately 5 percent expected from net shelf-space gains at retailers.

“Given that we are in the midst of a recession,we had very good profit growth in the quarter and solidified business momentum for 2010,” Hanesbrands Chairman and Chief Executive Officer Richard A. Noll said. “We have built a platform for future growth through our continued brand investments and low-cost global supply chain. We are protecting margins, reducing debt and substantially ramping up our production capacity to support a strong 2010, in which we expect shelf-space and distribution gains to add approximately 5 percent to our sales.”

Noteworthy Financial Highlights
Selected highlights for the quarter ended Oct. 3, 2009,compared with the year-ago quarter ended Sept. 27, 2008, include:
- Third-quarter sales were consistent with the company's previously announced expectations at $1.06 billion, compared with $1.15 billion a year ago. The company increased trade spending, especially for back-to-school programs, to support retailers and position the company for future growth opportunities.

- Sales for the Innerwear segment declined by 10 percent with weakness in intimate apparel and socks. Male underwear sales were comparable to last year. Outerwear segment sales decreased by 5 percent with sales strength to retailers, including increased Champion brand activewear sales, offset by lower sales to the wholesale channel.

- International segment sales decreased by 8 percent, and Hosiery segment sales declined by 12 percent. The company's sales planning assumption continues to be that consumer-spending levels remain constant through 2009.

- Operating profit was $93.3 million in the quarter, up from $58.2 million a year ago. Operating profit excluding actions increased by 9 percent to $111.1 million. The operating profit improvement resulted from cost-reduction initiatives and lower commodities.

- The third quarter's operating profit margin excluding actions was 10.5 percent, compared with 8.9 percent in last year's third quarter.

- Diluted EPS increased to $0.43 from $0.17, while diluted EPS excluding actions increased by 21 percent to $0.63 from $0.52 a year ago.

- EPS benefited from higher operating profit and a lower effective income tax rate. The effective income tax rate was 14 percent in the quarter, down from a rate of 24 percent in last year's quarter. The company expects the tax rate for the year to be 16 percent, reflecting a higher mix of foreign profit due in part to domestic restructuring charges.


Must ReadView All

Coats acquires yarn manufacturer Patrick Yarn Mill

Textiles | On 12th Dec 2017

Coats acquires yarn manufacturer Patrick Yarn Mill

Coats, the world’s leading industrial thread manufacturer, has...

India’s garment imports from Bangladesh up 56% post-GST

Apparel/Garments | On 12th Dec 2017

India’s garment imports from Bangladesh up 56% post-GST

India has imported $87.4 million worth of readymade garments from...

Courtesy: Badger Sportswear

Apparel/Garments | On 12th Dec 2017

Badger Sportswear acquires Alleson Athletic

Badger Sportswear, a leading manufacturer of athletic apparel and...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Urmil Arya

Sushila International, a well established textile organisation established ...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Steve Cole
Xerium Technologies

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

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eamonn Tighe
Nature Works LLC

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

Akta Adani
India Boulevard

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

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

December 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.6%
No
12.0%
Skip
18.5%

Total Votes: 92

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
30.4%
Skip
7.6%

Total Votes: 92

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.0%
No
9.8%
Skip
3.3%

Total Votes: 92

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
81.5%
No
8.7%
Skip
9.8%

Total Votes: 92


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search