HanesBrands update: Revenues up, CEO Bratspies to step down

Clothing company HanesBrands reported fourth-quarter net sales from continuing operations of 888 million dollars, reflecting a 4.5 percent increase compared to the prior year.

Income from continuing operations reached 46 million dollars, or 13 cents per diluted share, while adjusted income from continuing operations rose to 61 million dollars, or 17 cents per diluted share.

In a separate announcement, the company revealed that CEO Steve Bratspies will depart at the end of 2025 or upon the appointment of his successor.

“We delivered a strong quarter and full-year with results across all key metrics exceeding our expectations as the benefits of our transformation strategy are clearly working,” said Bratspies.

“Since joining as CEO, working alongside our talented global team, we have significantly simplified and strengthened our business. I am proud of the actions we have taken, what this organization has achieved together, and how HanesBrands is ready for the future,” he added.

The board acknowledged Bratspies' transformative leadership, highlighting his efforts to steer HanesBrands through industry challenges, overhaul the operating model, complete the sale of the Champion business, and position the company as a global leader in basics and innerwear.

For the upcoming fiscal year, HanesBrands anticipates net sales from continuing operations of approximately 3.47 billion dollars to 3.52 billion dollars, GAAP earnings per share from continuing operations of approximately 39 cents to 45 cents, and adjusted earnings per share from continuing operations of approximately 51 cents to 55 cents.

For the first quarter of 2025, the company projects net sales from continuing operations of approximately 750 million dollars, a GAAP loss per share from continuing operations of approximately 5 cents, and adjusted earnings per share from continuing operations of approximately 2 cents.