Home / Knowledge / News / Apparel/Garments / Q2FY17 GAAP operating profit surges 59% at HanesBrands
Q2FY17 GAAP operating profit surges 59% at HanesBrands
Aug '16
On a GAAP basis, operating profit at global marketer of apparel HanesBrands totaled $221 million, a surge of 59 per cent year over year in its second fiscal quarter ended July 2, 2016.

However, when excluding pretax charges related to acquisitions, integrations and debt refinancing, adjusted operating profit of $246 million dipped 7 per cent.

Again on a GAAP basis, earnings per diluted share of $0.34 soared 48 per cent from a fiscal ago quarter in the reporting quarter, while adjusted EPS at $0.51 rose much slower at 2 per cent.

According to the marketer, all adjusted consolidated measures exclude $72 million of pretax charges in the quarter under review and $126 million of pretax charges in the second fiscal quarter of 2015-16.

Net sales declined 3 per cent over the prior fiscal's second quarter to $1.47 billion for the quarter ended July 2, 2016, which it said was consistent with the company's expectations.

The company has updated fiscal 2016-17 guidance for net sales which it now expects to be $6.15-6.25 billion, adjusted operating profit of $940-975 million and adjusted EPS of $1.89-1.95. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

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

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

Kevin Nelson

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

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Steve Cole
Xerium Technologies

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sonam & Paras Modi

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

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

January 2017

January 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search