Home / Knowledge / News / Apparel/Garments / Hanesbrands announces long-term growth goals

Hanesbrands announces long-term growth goals

Oct '06
Hanesbrands Inc, a leading marketer of innerwear, outerwear and hosiery apparel, reported results for the quarter ended Sept. 30, 2006.

Hanesbrands began operating as an independent publicly traded company on Sept. 5, 2006. During the 13-week quarter, Hanesbrands operated for approximately 9 1/2 weeks as Sara Lee Corporation's branded apparel business in the Americas and Asia.

"We are pleased to have successfully completed our spinoff in the quarter and are focused on driving results, executing our strategies and establishing the base from which to achieve our long-term growth goals," Hanesbrands Chief Executive Officer Richard A. Noll said.

"Our year-over-year sales decline was expected due to the exit from low-margin sales and as a result of continued sheer hosiery sales declines that are following a decade-long downward trend," Noll said. "Core sales were generally consistent with last year."

Excluding costs for the spinoff and restructuring in the current and year-ago quarters, operating profit increased by 15.7 percent to $124.6 million from $107.7 million a year ago.

The increase in adjusted operating profit was a result of reduced corporate allocations associated with Sara Lee ownership, the benefits of previous cost-reduction actions and beneficial timing of certain costs between the September and December quarters.

Interest expense increased in the September quarter to $17.6 million from $4.1 million a year ago. The increase is a result of higher debt incurred 3 1/2 weeks before the end of the quarter as a result of the spinoff from Sara Lee Corporation. Long-term debt at the end of the quarter was $2.6 billion.

Must ReadView All

Pic: Shutterstock

Textiles | On 27th Feb 2020

Australia willing to consider FTA with India on RCEP lines

Australia is willing to consider a bilateral free trade agreement...

Pic: Shutterstock

Apparel/Garments | On 27th Feb 2020

Hun Sen asks PRC garment investors not to leave Cambodia

Prime Minister Hun Sen recently again told Chinese garment sector...

Pic: Shutterstock

Textiles | On 27th Feb 2020

ADD removal on PTA respite to man-made textiles: Ind-Ra

The withdrawal of anti-dumping duty (ADD) on purified terephthalic...

Interviews View All

Arvind Saraf, Triveni Sarees

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Rahul Bhadani, Looksgud

Rahul Bhadani

Navigating through catalogues is a bit hasslesome

Marazban F Velati, Sutlej Textiles & Industries limited

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Nuria Estape,

Nuria Estape

Archroma is a global colour and specialty chemicals company headquartered...

Luciano Sardini,

Luciano Sardini

A consolidated reality in Italy and internationally, IMA Spa is well-known ...

Daniel Odermatt, Ventile

Daniel Odermatt

Ventile is a registered trademark used to brand a special high-quality...

Frank Heislitz, Freudenberg

Frank Heislitz

Freudenberg Performance Materials is a leading global manufacturer of...

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Madhu Jain, Madhu Jain

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Amiben Shroff, Shrujan

Amiben Shroff

From its modest beginning in the late 1960s, Shrujan has grown into a...

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


Leave your Comments

February 2020

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

Advanced Search