×
2 303
Fashion Jobs
ESTÉE LAUDER
Clinique - Consultant - Boots-Liverpool Street, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots-Handforth Dean, Wilmslow - 15 Hours / Week - Part Time, Permanent
Permanent · Wilmslow
ESTÉE LAUDER
Clinique - Consultant - Bentalls, Kingston- 21.5 Hours / 3 Days / Week - Part Time, Permanent
Permanent · Kingston upon Thames
ESTÉE LAUDER
la Mer - Business Manager - Flannels, Meadowhall - 37.5 Hours / 5 Days - Full Time, Permanent
Permanent · Sheffield
ESTÉE LAUDER
Clinique - Consultant - Boots - Cribbs Causeway, Bristol - 17.5 Hours / 3 Days - Part Time, Permanent
Permanent · Bristol
ESTÉE LAUDER
la Mer - Business Manager - Harvey Nichols, London - 37.5 Hours / Week - Full Time, Permanent
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - Boots, Warrington - 17 Hours - Part Time, Permanent
Permanent · Warrington
ESTÉE LAUDER
The Estée Lauder Companies - IT Service Desk Manager UK
Permanent · Fareham
ESTÉE LAUDER
Clinique - Consultant - Boots, Bishops Stortford - 7.5 Hours - Part Time, Permanent
Permanent · Bishop's Stortford
JOHN LEWIS
Contract Sales Manager
Permanent · DARWEN
PUMA
Cobra Puma Golf - Sales Support Coordinator
Permanent · Castleford
JOHN LEWIS
Loss Prevention Partner
Permanent · LEICESTER
HEAD OFFICE
Team Manager/Chef Victoria Head Office
Permanent · LONDON
VF INTERNATIONAL
Account Coordinator - Italian Speaking - Vans
Permanent · NOTTINGHAM
VF INTERNATIONAL
dc Training Specialist
Permanent · COALVILLE
VF INTERNATIONAL
dc Team Leader
Permanent · COALVILLE
DR. MARTENS
Finance Analyst
Permanent · LONDON
MULBERRY
Lifetime Service Centre, Raw Materials Stock Coordinator
Permanent · CHILCOMPTON
AUTUMNPAPER LIMITED
Alexander Mcqueen Vip Officer
Permanent · LONDON
AUTUMNPAPER LIMITED
Alexander Mcqueen Decision Intelligence Manager
Permanent · LONDON
ON RUNNING
Technical Representative
Permanent · LONDON
DEBENHAMS
Business Development Manager
Permanent · LONDON
Ads
Published
Nov 6, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

HanesBrands reports higher-than-expected sales and earnings, disappoints with guidance

Published
Nov 6, 2020

HanesBrands Inc., the Winston-Salem, North Carolina-based owner of brands including Champion and Playtex, announced better-than-expected third-quarter financial results on Thursday, but provided a less impressive outlook.


Sales of personal protective garments helped Hanes narrow declines in its revenues - Instagram: @champion

 
In the third quarter ended September 26, 2020, net sales at the company totaled $1.81 billion, decreasing 3.1% from $1.87 billion the year before. As well as the negative effect of the Covid-19 pandemic, sales were also impacted by Hanes’ exit from the C9 Champion mass program and its DKNY intimate apparel license, which together accounted for $119 million in sales in the prior-year period.
 
These decreases were partially offset by the addition of $179 million in sales of personal protective garments.

Quarterly net income at the company came to $103.3 million, down 44.2% from $185.1 million, while diluted earnings per share decreased 43%, from $0.51 to $0.29. Adjusted earnings per share were $0.42.
 
As reported by MarketWatch, Wall Street analysts surveyed by FactSet had expected the company to report adjusted earnings per share of $0.39 on sales of $1.66 billion.
 
By segment, Hanes’ U.S. innerwear sales increased 8.4% excluding protective garments, or 37% taking the sales in this new category into account. U.S. activewear sales dropped 41%, largely due to declines in sports apparel revenues related to Covid-19.
 
Sales in the company’s international segment slipped 5%, or 7% on a constant currency basis.
 
“I’m pleased with our third-quarter results as we saw significant improvements across our business and exceeded our expectations for sales, profits and cash flow from operations,” said Hanes CEO Steve Bratspies in a release. “We are conducting an in-depth review of our business as we build our growth strategy. Parts of our strategy will begin to unfold in the fourth quarter, and I look forward to reporting on our progress in the months ahead.”
 
Year to date, Hanes reported $4.86 billion in net sales, down 6.8% from $5.21 billion in the prior-year period. Net income for the first three quarters of the year were $256.6 million, or $0.72 per diluted share, decreasing from $415.7 million, or $1.14 per diluted share.
 
Looking forward to the fourth quarter, Hanes said that it expects to report net sales in the range of $1.60 billion to $1.66 billion. Earnings per share are predicted to be between $0.24 and $0.29, with adjust EPS expected to range from $0.25 to $0.30.
 
FactSet analysts had been expecting an EPS outlook of $0.44 on sales of $1.71 billion.
 
In light of the company’s disappointing financial guidance, shares in HanesBrands were down 20% on Thursday afternoon.
 

Copyright © 2022 FashionNetwork.com All rights reserved.