;
Home / Knowledge / News / Apparel/Garments / HanesBrands sales climb 7% in Q1FY18 to $1.47 billion
HanesBrands sales climb 7% in Q1FY18 to $1.47 billion
02
May '18
Courtesy: HanesBrands
Courtesy: HanesBrands
For the first quarter ended March 31, 2018, HanesBrands has reported net sales growth of 7 per cent to $1.47 billion versus a guidance range of $1.42 billion to $1.44 billion. GAAP diluted EPS for continuing operations increased 16 per cent to $0.22 compared with guidance of $0.17 to $0.20, while adjusted EPS excluding actions decreased 10 per cent to $0.26.

The acquisitions of Bras N Things and Alternative Apparel contributed to sales growth in the quarter, while organic sales growth, driven by increased Champion and online sales, more than offset declines in the US brick-and-mortar channel. International operating profit growth was offset by declines in domestic operating profit.

Beginning in the first-quarter 2018, Hanes has eliminated the business-segment allocation of certain overhead selling, general and administrative expenses related to global functions in order to reflect the manner in which businesses are managed. Prior-year segment operating profit results have been revised to conform to the current presentation of segment results, HanesBrands press release said.

"We are focused on delivering quarterly results consistent with the promises we make in our guidance," said Hanes chief executive officer Gerald W Evans Jr. "We’re off to a good start. We are reaping ongoing benefits from diversifying our business through geographic expansion, Champion brand growth globally, and increased sales in the online channel. We have created powerful cash-generating global innerwear and activewear businesses that can leverage our leading market positions and brands, our robust global supply chain, and our global management expertise. This is the engine for creating shareholder value."

The company continues to expect full-year 2018 net sales of $6.72 billion to $6.82 billion, GAAP operating profit of $870 million to $905 million, adjusted operating profit excluding actions of $950 million to $985 million, GAAP EPS of $1.54 to $1.62, adjusted EPS excluding actions of $1.72 to $1.80, and net cash from operations of $675 million to $750 million. With US income tax reform, the company expects the 2018 full-year tax rate to be approximately 16 per cent.

Key assumptions in the company’s guidance include: a cautious outlook for the US brick-and-mortar consumer environment, including the first-half effect of door closures; an increase in full-year organic sales driven by online, global Champion, and international growth; and higher commodity costs and increased marketing investment to support additional planned product innovation.

Second-quarter net sales are expected to be in the range of $1.7 billion to $1.725 billion. At the midpoint of this guidance range, constant-currency organic sales are expected to decline less than 1 per cent. GAAP EPS is expected to be $0.38 to $0.40, and adjusted EPS excluding actions is expected to be $0.44 to $0.46. Charges related to acquisition integration and other actions are expected to total approximately $25 million in the second quarter. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Myanmar requests EU not to revoke trade preference

Apparel/Garments | On 21st Jan 2019

Myanmar requests EU not to revoke trade preference

Myanmar Government officials and businesses have requested the...

Tanzania spends Sh7 bn to boost cotton production

Textiles | On 21st Jan 2019

Tanzania spends Sh7 bn to boost cotton production

Tanzania has injected Sh7 billion for distribution of insecticides...

India to soon have own standard for apparel size: minister

Apparel/Garments | On 21st Jan 2019

India to soon have own standard for apparel size: minister

India will soon roll out a size project for Indian apparel on the...

Interviews View All

Angelina Francesca Cheang, MY ANJE

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Top executives, Retailers

Top executives
Retailers

Weak rupee breeds inflation

Top executives, Fabric manufacturers

Top executives
Fabric manufacturers

Domestic manufacturers would get an edge over imported products

Lucilla Booyzen,

Lucilla Booyzen

South African Fashion Week (SAFW) is a B2B marketing platform for fashion, ...

Milva Morani,

Milva Morani

Brighi Technologies began in 1970 with trading and repairing sewing...

Harsh Shah,

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

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

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Anisha Chaudhari, Threads & Shirts

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Karan Arora, Karan Arora

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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

Leave your Comments


January 2019

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

news category


Related Categories:

Advanced Search