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Hosiery apparel marketer Hanesbrands Inc reports Q1 sales results

Apr '07
Hanesbrands Inc a leading marketer of innerwear, outerwear and hosiery apparel, reported results for the 2007 first quarter.

Total net sales increased slightly to $1.04 billion, and earnings per diluted share were $0.12, which were significantly lower than a year ago primarily because of several factors related to the company's new independent structure following its spinoff in September 2006.

In addition to operating performance, results in the quarter reflect costs associated with restructuring, stand-alone independent company costs, increased interest expense and other actions.

"Our performance was on track with our expectations for the quarter," Hanesbrands Chief Executive Officer Richard A. Noll said. "We increased sales, made strategic advances in operations and generated cash for investment in our business. We are off to a solid start in our first full year, which is the foundation for achieving our long-term growth goals."

In March, the Hanes brand launched a new national television, print and Internet advertising campaign for its Hanes All-Over Comfort Bra with ComfortSoft Straps featuring celebrity Jennifer Love Hewitt. Since the campaign was launched, we have seen accelerated retail sell-through of the All-Over Comfort Bra.

The Champion brand has achieved annual compound growth of more than 15 percent over the past two years and has increased distribution penetration in the mid-tier department store, sporting goods and mass retail channels. Innovative additions to the Champion product lines of performance apparel, activewear, sports bras, socks and underwear include double-dry fabric jerseys, shorts and other products.

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