Home / Knowledge / News / Apparel/Garments / Hanes plans to hike price for products made with cotton
Hanes plans to hike price for products made with cotton
Jan '11
HanesBrands reported its fourth-quarter and full-year 2010 results, completing a successful year of double-digit net sales growth and increased earnings per share.

Hanes' net sales for the year increased by 11.2 percent to $4.33 billion, driven by significant share gains and consecutive quarterly sales growth rates of 8 percent, 9 percent, 11 percent and 16 percent, respectively. Earnings per share were $2.16, compared with $0.54 last year, and exceeded the company's previous guidance of $2.07 to $2.12 as a result of lower-than-expected expenses related to debt refinancing.

For 2011, Hanes expects continued double-digit growth with projected net sales of approximately $4.85 billion to $5.0 billion and EPS of approximately $2.60 to $2.80.

“We had a great year in which we significantly exceeded our initial sales expectations by generating double-digit growth and gaining significant market share,” Hanes' Chairman and Chief Executive Officer Richard A. Noll said. “Our growth platform is working and we are focused on continued share gains. With our strong brands and global supply chain, we are in good position to address the challenges of inflation with our retail partners and continue increasing sales and market share.”

2010 Financial Highlights and Business Segment Summary

Fourth-quarter 2010 EPS of $0.29 reflects a reduction of $0.14 for expenses related to debt refinancing. The company had previously estimated that debt-refinancing expenses would reduce EPS by $0.20 in the quarter. As expected, the quarter's EPS was also impacted by higher cotton costs and higher expenses to service sales growth.

Last year's fourth-quarter EPS was a loss of $(0.01), including the impact of $0.57 for debt refinancing and restructuring and related costs. Excluding these expenses, the company would have earned $0.56 in last year's fourth quarter.

Sales growth for the year and fourth quarter were driven by significant market-share gains, positive retail sell-through of the company's products, and retail inventory restocking. Net shelf-space and distribution gains contributed 5 percentage points of growth in the fourth quarter and 6 percentage points for the year. The Gear For Sports acquisition, completed Nov. 1, 2010, added 4 percentage points of sales growth in the fourth quarter.

“Our sales growth in 2010 was broad-based with increases in nearly every country and in every category except sheer hosiery,” Noll said. “Sales increased with nine of our top 10 U.S. customers, led by impressive market share growth, most notably in men's underwear with share growth of nearly 5 points and share growth of 1 to 2 points each for socks, activewear, plus-size women's apparel, and bras.”

“We have visibility to macro trends from the consumer all the way back through the supply chain to cotton, and 2011 looks to be unfolding as we expected,” Noll said. “We believe this visibility coupled with our brand strength gives us a competitive advantage to manage our business in this inflationary environment.”

Click here for more details

Hanesbrands Inc

Must ReadView All

Textiles | On 27th Oct 2016

Teijin Frontier develops Solotex RC lightweight fibre

Teijin Frontier Co. Ltd, fibre products converting company and part...

Tosha Hays addressing the conference. Courtesy: College of Family and Consumer Sciences, UGA

Textiles | On 27th Oct 2016

Industry experts discuss future of fabrics at UGA

Industry experts, researchers and military officials discussed the...

Courtesy: Global Denim Awards

Fashion | On 27th Oct 2016

Anbasja Blanken & Italian mill ITV Denim win GDA

Dutch designer Anbasja Blanken and Italian mill ITV Denim was the...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Steve Cole
Xerium Technologies

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

Ritu Kumar
Label Ritu Kumar

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

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Pranav Mishra

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


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search