HanesBrands reports rise in Q1 net sales and earnings

For its first quarter, HanesBrands reported net sales increase of 8 percent to 1.59 billion dollars and organic sales in constant currency increase of 10 percent, the seventh consecutive quarter of constant-currency organic growth. The company said sales were fuelled by strong US activewear growth, broad-based international growth, and increased sales of US innerwear basics and globally, strong Champion sales growth accelerated. GAAP operating profit increased 1 percent to 148 million dollars, while adjusted operating profit increased 2 percent to 169 million dollars. GAAP diluted earnings per share in the quarter were 22 cents, while adjusted EPS increased 4 percent to 27 cents.