Q3FY17 net sales at HanesBrands up 11%

03 Nov '16

1 min read

For the third fiscal quarter ended October 1, 2016, net sales at HanesBrands, a global marketer and retailer of apparel and innerwear rose 11 per cent year over year to $1.76 billion. The growth in sales was driven by organic growth in the innerwear segment and strong acquisition related global growth, partially offset by declines in the activewear segment.

Operating profit on a GAAP basis amounted to $228 million in the reporting quarter, up 10 per cent, while diluted earnings per share (EPS) from continuing operations grew 13 per cent at $0.45.

When excluding pretax charges related to acquisitions and integrations, the retailer reported adjusted operating profit of $271 million and adjusted EPS from continuing operations of $0.56 in the third quarter of fiscal 2017.

According to HanesBrands, the results reflect continuing operations and exclude around $43 million of pretax charges taken in both the third quarter of fiscal 2016 and 2017 related to acquisitions and other actions. (AR)

Fibre2Fashion News Desk – India

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