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HanesBrands (NYSE: HBI) announced progress toward its 2025 and 2030 sustainability goals. Key achievements include a 53% reduction in absolute Scope 1 and 2 greenhouse gas emissions since 2019 and approval of near-term science-based targets from the Science-Based Targets initiative. The company also reported a 41% reduction in Scope 1 and 2 intensity, substantial cuts in water use and packaging weight, and significant steps towards zero waste by 2025 and 100% renewable electricity by 2030. HanesBrands' sustainability efforts have saved $23 million since 2020, with over $10 million saved in 2023 alone. Additionally, the company impacted 3.4 million lives since 2021 through community programs and sustainability initiatives. Products have gained recognition through Amazon's Climate Pledge Friendly program, with several receiving GreenCircle certification for reduced emissions and renewable energy use.
HanesBrands (NYSE:HBI) has announced a five-year extension of its partnership with Texas Christian University (TCU). This renewal grants HanesBrands the exclusive rights to manufacture and sell Horned Frog fanwear in the mass retail channel.
TCU is among over two dozen elite schools with exclusive mass retail partnerships with HanesBrands, including Florida State, Penn State, the University of Michigan, Clemson University, and Auburn University. Additionally, more than a dozen top universities have primary apparel partnerships with HanesBrands.
John Fryer, President of Licensed Sports Apparel at HanesBrands, emphasized the company’s commitment to TCU fans, students, and alumni, highlighting the quality and innovation in their products. TCU's Deputy Athletics Director, Ryan Peck, expressed satisfaction with the partnership, citing positive feedback from the fan base.
HanesBrands, known for its global apparel and commitment to sustainability, includes brands such as Champion, Hanes, Alternative Apparel, and ComfortWash in its collegiate apparel program.
HanesBrands announced first-quarter 2024 results with net sales of $1.16 billion, meeting expectations. Gross margin increased 750 and 720 basis points for GAAP and adjusted, respectively. Operating profit was $52 million, adjusted operating profit exceeded expectations at $84 million. Inventory reduced by 28% year-over-year. Cash flow from operations was $26 million. Leverage reduced to 5.0 times net debt-to-adjusted EBITDA. Second-quarter 2024 guidance includes net sales of $1.335 billion to $1.375 billion. Full-year 2024 guidance reiterated with expected strong profit and EPS growth. Company plans to pay down over $300 million of debt in 2024.
HanesBrands (NYSE: HBI) announced details for its first-quarter 2024 earnings announcement and investor conference call set for May 9, 2024. The company will reveal financial results for the quarter ended March 30, 2023, before the conference call. Participants can join via telephone or webcast, with a Q&A session included. HanesBrands, known for popular brands like Hanes, Champion, Bonds, Maidenform, and Bali, aims for long-term growth and sustainability.