GAAP EPS drives up 37% at HanesBrands in Q4FY17
February 06, 2017 - United States Of America
Earnings per share (EPS) on a GAAP basis drove up 37 per cent year on year to $0.41 in the three months ended January 2, 2017 at apparel retailer HanesBrands, while full fiscal EPS surged 32 per cent to $1.40. Adjusted EPS grew 20 per cent at $0.53 in the reporting quarter, but adjusted EPS in fiscal 2017 rose slower at 11 per cent to $1.85.
In the fourth quarter of fiscal 2017, net sales expanded 12 per cent year on year to $1.58 billion and full fiscal net sales increased 5 per cent to $6.03 billion.
According to the retailer, sales growth was driven by acquisitions, but was impacted by a weaker than expected retail environment in the US in the fourth quarter.
HanesBrands generated a record $606 million in net cash from operations in fiscal 2017 and its inventory declined $132 million as of January 2, 2017 from the end of the earlier fiscal, when excluding $158 million of fiscal end inventory, added as part of acquisitions in the fiscal. (AR)