Home / Knowledge / News / Results/Reports / HanesBrands posts sales of $1.85 billion in Q3

HanesBrands posts sales of $1.85 billion in Q3

Nov '18
Courtesy: HanesBrands
Courtesy: HanesBrands
HanesBrands, a leading global marketer of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia-Pacific, has announced Q3 2018 results including a $14 million bad-debt charge from Sears Holdings. The Q3 net sales of the company increased 3 per cent to $1.85 billion with constant-currency organic sales up 1 per cent.
Hanesbrand sells its products under some of the world's strongest apparel brands including Hanes, Champion, Maidenform, L'eggs, Lovable, etc. The company sells t-shirts, bras, panties, shapewear, underwear, socks, hosiery, and activewear produced in the company's low-cost global supply chain.
The US innerwear segment sales of HanesBrands decreased by 7 per cent, while operating profit decreased 14 per cent. The innerwear segment results were affected by order imbalance primarily as a result of slower replenishment orders compared with strong point-of-sale trends and higher raw material costs.
The innerwear basics sales decreased, with socks and panties sales down and men's underwear sales up. All three categories had point-of-sale growth. Products featuring innovation accounted for 20 per cent of basics sales. The innerwear intimates sales decreased as well.
The activewear segment sales and profits increased on Champion growth and acquisition benefits. US activewear segment sales increased 7 per cent. Organic sales increased 4 per cent, while the alternative apparel acquisition also contributed to growth. Net sales for Alternative Apparel, acquired in October 2017, were $16 million.
"Our overall results were good and in line with our guidance on a pro forma basis. We made progress on our long-term goals of continued organic sales growth, higher profit margins, and reduced debt leverage," said Hanes chief executive officer Gerald W Evans Junior. "We are diligently focused on delivering the fourth quarter with solid order bookings across our segments."
"Global Champion growth outside the mass channel, which was up 40 per cent in constant currency in the quarter, is expected to remain strong," said Evans. "And while we were disappointed that innerwear sales were lower than expected in the third quarter, consumer demand was strong, and we believe that continued underlying strength supports our outlook for improvement."
The company expects full-year 2018 net sales between $6.735 - $6.775 billion, according to a press release. Strong Champion growth is expected to continue to drive increased sales in the activewear and international segments in the fourth quarter. 
The company expects fourth-quarter net sales of approximately $1.70 - $1.74 billion. The midpoint of guidance represents approximately 5 per cent growth versus the fourth-quarter a year ago and organic constant currency growth of approximately 3.5 per cent. (PC)

Fibre2Fashion News Desk – India

Must ReadView All

Courtesy: Prime Minister's Office, UK

Textiles | On 15th Nov 2018

British PM May secures cabinet support on Brexit

The British cabinet on 14 November backed a draft withdrawal...

India expands paperless processing of export documents

Apparel/Garments | On 15th Nov 2018

India expands paperless processing of export documents

To improve ease of conducting business and promote paperless...

Pak textile mills assured of ECC decision implementation

Textiles | On 15th Nov 2018

Pak textile mills assured of ECC decision implementation

The Pakistani prime minister’s advisor for commerce, textile,...

Interviews View All

Jurgen Gauger, Spreadshirt

Jurgen Gauger

‘Buying crowdsourced or creative designs are much more appealing to the...

Top executives, Textile industry

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Riddhika Shah, SS Homme

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Maya Simova,

Maya Simova

Inter Expo and Congress Center (IEC) is a prominent exhibition centre in...

Mala Alwani,

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

S Ziya Gumuser, Teknomelt

S Ziya Gumuser

Turkish nonwoven manufacturer Teknomelt has been around for only seven...

Iago Castro Asensio, RCfil Distribuciones S.L.

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Judy Frater, Somaiya Kala Vidya

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

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

November 2018

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

news category

Related Categories:

Advanced Search