Home / Knowledge / News / Apparel/Garments / Q3FY15 net sales climb 14% at Hanesbrands
Q3FY15 net sales climb 14% at Hanesbrands
30
Oct '15
Net sales in the third fiscal quarter ended October 3, 2015 at global marketer of innerwear and outerwear, Hanesbrands climbed 14 per cent year over year.

In a press release, Hanes said its net sales increased 14 per cent year on year to $1.59 billion in the third quarter of fiscal 2015, while core sales, which exclude acquisitions and a retailer exit rose 3 per cent in constant currency.

Innerwear net sales expanded 3 per cent over the third quarter of prior fiscal and operating profit in the segment drove up 5 per cent.

“Sales of intimates rebounded with high-single-digit growth on strength in bras and shapewear, while sales of basics were up slightly versus the fiscal ago quarter,” it added.

Activewear results in the quarter were strong with net sales growth of 22 per cent and operating profit growth of 39 per cent driven by double-digit Champion growth and the acquisition of Knights Apparel.

“Core sales, which exclude acquisitions, climbed 2 per cent with growth of more than 30 per cent for Champion in the department-store, mid-tier and sporting goods channels,” the company informed.

“International sales and operating profit increased significantly, despite negative foreign currency impacts, as a result of the acquisition of DBApparel in Europe and strong results in Japan,” Hanesbrands stated.

In the reporting quarter, adjusted operating profit excluding actions surged 16 per cent to $251 million, and adjusted EPS excluding actions grew 16 percent to $0.50.

On a GAAP basis, operating profit soared 35 per cent from a fiscal ago quarter to $208 million and EPS drove up 38 per cent to $0.40.

“All adjusted consolidated measures and comparisons exclude approximately $43 million and $63 million of pretax charges related to acquisitions and other actions in the third quarters of both fiscal's,” it explained.

Hanes also expanded its strategic use of cash flow in the quarter by beginning to repurchase company stock in the open market and purchased 10.7 million shares for approximately $311 million in the quarter under review.

“We had another great quarter of double-digit growth that reflects our continued value-creation potential,” Hanes chairman and chief executive officer Richard Noll said.

“We again have increased our operating profit and EPS guidance as we continue to drive growth and margin improvement through innovation and acquisition integration,” Noll added.

Hanes has updated its full-fiscal guidance, including increased expectations for adjusted operating profit and adjusted EPS.

The company now expects full-fiscal net sales of approximately $5.85 billion, adjusted operating profit of $880 million to $890 million, and adjusted EPS of $1.66 to $1.68. (AR)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 22nd Feb 2017

Bangladesh exporters want duty-free access to US, Brazil

Garment and apparel exporters of Bangladesh are seeking duty-free...

Textiles | On 22nd Feb 2017

India to produce 341 lakh bales cotton in 2016-17: CAI

The Cotton Association of India (CAI) has maintained in its January...

Textiles | On 22nd Feb 2017

'India to be self-sufficient in silk production by 2020'

Indian could be self-sufficient in silk production by the year 2020...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler
Groz-Beckert

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Tony Ward
Tony Ward

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

Igor Chapurin
Chapurin

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

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