HanesBrands news and archive

HanesBrands to elevate strategic options for global Champion business

HanesBrands, Inc. (HBI) announced Tuesday that its Board of Directors and executive leadership team, with the assistance of financial and legal advisors, are undertaking an evaluation of strategic options for the global Champion business. As part of this process, the Board will consider a broad range of alternatives to maximize shareholder...

Business

HanesBrands in licensing deal with G-III Apparel for Champion and C9 Champion Outerwear

Basic apparel maker HanesBrands, Inc. (HBI) Thursday said it has entered into a strategic multi-year license agreement for Champion and C9 Champion Outerwear with G-III Apparel Group, Ltd. (GIII). In pre-market activity on Nasdaq, G-III Apparel shares were gaining around 14.5 percent to trade at $22.10. The deal includes design, production and...

Business

HanesBrands lowers FY sales outlook

US apparel company HanesBrands has lowered its full-year sales outlook after reporting a 4.9 percent drop in the second quarter. The company posted net sales of 1.44 billion dollars in the three months to July 1, down from 1.51 billion dollars a year earlier. “We reported second-quarter results in line with our outlook,” said CEO Steve Bratspies...

People

HanesBrands confirms interim CFO Scott Lewis as new CFO

HanesBrands, Inc. (HBI) announced Tuesday that Interim Chief Financial Officer Scott Lewis has been appointed Chief Financial Officer, effective immediately. Lewis will also continue in his role as Chief Accounting Officer, a position he has held since 2015. Lewis, a 17-year veteran of HanesBrands with an extensive background in accounting, tax,...

BusinessFeatured

HanesBrands sales and earnings decline in Q1

For the first quarter, HanesBrands Inc. reported net sales of 1.39 billion dollars, a decrease of 12 percent compared to last year’s strong first-quarter results. On a constant currency basis, the company said in a release, net sales decreased 10 percent due to the macro-driven slowdown in consumer spending in the U.S. and Australia. The company...

Business

HanesBrands appoints Lorenzo Moretti as president of Champion Europe

HanesBrands has named Lorenzo Moretti as president of Champion Europe. Moretti will join HanesBrands in July and will be based in Carpi, Italy. In this role, the company said, Moretti will drive growth in the Champion brand across Europe, with a focus on continuing to elevate the business by delivering innovative products and building brand...

Business

HanesBrands secures 900 million dollar loan facility

HanesBrands has announced the completion of a refinancing for the last remaining series of its 2024 notes, successfully closing an upsized new Senior Secured Term Loan B Facility in an aggregate principal amount of 900 million dollars. In a release, the company said that the net proceeds from the facility together with the proceeds of the 600...

Business

HanesBrands appoints Mark Irvin to governance and nominating committee

HanesBrands Inc. has appointed Mark Irvin to the company’s board of directors. The company also announced that Bobby J. Griffin, a director since 2006, plans to retire from the board when his current term ends at the 2023 annual meeting of stockholders. The company added that Irvin’s term runs through the 2024 annual meeting of stockholders. He...

BusinessFeatured

HanesBrands posts Q4 loss, net sales drop by 16 percent

For the fourth quarter, HanesBrands Inc. reported a net sales decrease of 16 percent to 1.47 billion dollars, which includes a 55 million dollars unfavourable impact from foreign exchange rates, compared to last year. On a constant currency basis, net sales decreased 13 percent. The constant currency decline, the company said in a release, was...

Business

HanesBrands raises outlook, announces CFO departure

HanesBrands Inc. expects to report fourth-quarter 2022 net sales slightly above the top end of its outlook range and adjusted operating profit at the midpoint of the range. The company also announced that its chief financial officer, Michael Dastugue, has resigned effective February 28, 2023 for family reasons. The company said Scott Lewis, the...

BusinessFeatured

HanesBrands Q3 sales decline, outlook below forecast

HanesBrands Inc. net sales decreased 7 percent to 1.67 billion dollars and on a constant currency basis, net sales decreased 3 percent or 60 million dollars. The company said that the sales decline includes a 59 million dollars unfavourable impact from foreign exchange rates, compared to last year. The constant currency decline was due to the...

BusinessFeatured

Hit by negative sales trends and ransomware attack, HanesBrands Q2 sales drop

HanesBrands Inc. net sales of 1.51 billion dollars decreased 238 million dollars or 14 percent, over prior year. Adjusting for the 38 million dollars unfavourable impact from foreign exchange rates, net sales decreased 11 percent on a constant currency basis, while net sales, excluding PPE, increased 75 percent on a two-year stack basis. The...