HanesBrands, a US-based global marketer of branded everyday basic apparel, reported 3.1 per cent sales decrease to $1.80 billion in its third quarter (Q3) FY20 that ended on September 26, 2020, compared to the sales of $1.86 billion in same period previous year. Net income for the quarter slipped to $103.27 million (Q3 FY19: $185.09 million).

 

HanesBrands, a US-based global marketer of branded everyday basic apparel, reported 3.1 per cent sales decrease to $1.80 billion in its third quarter (Q3) FY20 that ended on September 26, 2020, compared to the sales of $1.86 billion in same period previous year. Net income for the quarter slipped to $103.27 million (Q3 FY19: $185.09 million).#

“I’m pleased with our third-quarter results as we saw significant improvements across our business and exceeded our expectations for sales, profits and cash flow from operations. We saw particularly strong performance in our US innerwear and global Champion businesses, and I’m encouraged by our momentum even as we continue to operate in a challenging environment,” Steve Bratspies, Hanes chief executive officer, said in a press release.

 

HanesBrands, a US-based global marketer of branded everyday basic apparel, reported 3.1 per cent sales decrease to $1.80 billion in its third quarter (Q3) FY20 that ended on September 26, 2020, compared to the sales of $1.86 billion in same period previous year. Net income for the quarter slipped to $103.27 million (Q3 FY19: $185.09 million).#

Gross profit during Q3 FY20 dropped to $616.71 million ($717.03 million). Selling, general and administrative expenses fell to $442.14 million ($449.96 million). Company’s operating profit for the reported period came down 34.6 per cent to $174.57 million ($267.07 million).

 

HanesBrands, a US-based global marketer of branded everyday basic apparel, reported 3.1 per cent sales decrease to $1.80 billion in its third quarter (Q3) FY20 that ended on September 26, 2020, compared to the sales of $1.86 billion in same period previous year. Net income for the quarter slipped to $103.27 million (Q3 FY19: $185.09 million).#

Sales of innerwear segment during the third quarter grew 41.0 per cent to $792.60 million ($562.28 million). While, activewear sales fell 27.1 per cent to $324.92 million ($445.58 million). International sales decreased 4.7 per cent to $632.11 million ($663.52 million).

 

HanesBrands, a US-based global marketer of branded everyday basic apparel, reported 3.1 per cent sales decrease to $1.80 billion in its third quarter (Q3) FY20 that ended on September 26, 2020, compared to the sales of $1.86 billion in same period previous year. Net income for the quarter slipped to $103.27 million (Q3 FY19: $185.09 million).#

“We are conducting an in-depth review of our business as we build our growth strategy. Parts of our strategy will begin to unfold in the fourth quarter, and I look forward to reporting on our progress in the months ahead,” Bratspies said.