Hosiery apparel marketer Hanesbrands Inc reports Q1 sales results

27 Apr '07

3 min read

Hanesbrands continues to execute its long-term global supply chain strategy of moving production to lower-cost countries to increase competitiveness. In the first quarter of 2007, the company announced plans to close two domestic textile facilities and two domestic distribution centers. The company also ended operations at three facilities for which closure plans had been previously announced. The company recognized $21.5 million in restructuring and related charges in the quarter, $4.6 million of which were noncash.

"We continue to successfully execute our core improvement strategies of reducing costs, increasing investment in our strongest brands and generating cash," Noll said. "These efforts are fundamental to our model to create value and drive growth in sales, operating profit and diluted earnings per share beyond this baseline year."

Hanesbrands will host a live Internet webcast of its quarterly investor conference call at 10 a.m. EDT. The live Internet broadcast may be accessed on the home page of the Hanesbrands corporate. The call is expected to conclude by 11 a.m. EDT.

Hanesbrands Inc

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