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HanesBrands Inc. (HBI) delivers essential apparel solutions through iconic brands like Hanes and Champion. This news hub provides investors and industry professionals with timely updates on corporate developments shaping the global apparel sector.
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HanesBrands Inc. (HBI) reported a strong second quarter of 2021 with net sales at $1.75 billion, a 13% increase from the previous year. Excluding PPE sales, net sales surged 88%. Operating profit rose 8% to $217 million, although operating margin decreased to 12.4%. The company anticipates Q3 2021 net sales between $1.78 billion and $1.81 billion, reflecting a 6% growth at the midpoint. For the full year, HBI raised its sales outlook to $6.75-$6.85 billion, a significant increase from prior estimates. The growth is attributed to strong consumer demand and successful execution of its Full Potential growth plan.
HanesBrands (HBI) has declared a quarterly cash dividend of $0.15 per share, payable on August 31, 2021, to stockholders of record by August 10, 2021. This marks the 34th consecutive quarterly dividend, with over $1.5 billion returned to shareholders since the dividend program's inception in April 2013. The company emphasizes its commitment to sustainability and ethical practices while aiming for long-term growth.
HanesBrands (NYSE: HBI) will host an internet audio webcast of its Q2 2021 investor conference call at 10:00 a.m. EDT on August 5, 2021. Financial results for the quarter ending July 3, 2021, will be disclosed prior to the call. The conference call will include prepared comments and a Q&A session, concluding by 11:00 a.m. EDT. Replays will be available online and via telephone through August 12, 2021. HanesBrands is recognized for its quality apparel and sustainable practices, employing 61,000 associates across 47 countries with a commitment to long-term growth.
HanesBrands (NYSE: HBI) has appointed William S. Simon to its board of directors, expanding the board to 10 members. Simon, a seasoned leader with significant experience in retail and consumer goods, will serve on the audit committee. His previous roles include president and CEO of Walmart U.S. and executive positions at multiple major companies. Board Chairman Ronald L. Nelson expressed excitement about Simon's leadership as the company pursues its Full Potential plan for growth. HBI is known for its iconic brands and commitment to sustainability, employing 61,000 associates globally.
HanesBrands (NYSE: HBI), a leader in iconic apparel, announced Chief Sustainability Officer Chris Fox's participation in the Stifel Sustainable Lifestyle Brands Conference on May 25th. Fox's presentation is scheduled from 8:30 am to 8:55 am ET, and it will focus on the company's sustainability goals and initiatives. A live webcast will be available on the HanesBrands Investor Relations site, with a recording accessible afterward. HBI aims to enhance sustainability, evidenced by its 2030 goals aimed at improving lives and protecting the planet.
HanesBrands Inc. (NYSE: HBI) has launched a three-year growth initiative called Full Potential, aiming for approximately $1.2 billion in additional revenue and a 14.3% operating margin by 2024. The plan focuses on enhancing the Champion brand, targeting a $3 billion valuation, and revitalizing the innerwear segment, projecting $200 million growth. Key strategies include deeper consumer connections, product innovation, and improved e-commerce capabilities. The initiative anticipates revenue growth from $6.25 billion to $7.4 billion, alongside an earnings per share CAGR of 9% through 2024.
HanesBrands reported first-quarter 2021 net sales of $1.51 billion, marking a 25% increase from the previous year. The growth was driven by strong performance in both innerwear and activewear, with online sales surging 82%. The company achieved a GAAP operating profit of $190 million, a 297% increase year-over-year. However, a non-cash impairment charge of approximately $390 million was recorded for the European Innerwear business, now classified as discontinued operations. A quarterly cash dividend of $0.15 per share was also declared, marking the company's 33rd consecutive payout.
HanesBrands (NYSE: HBI) announces the appointment of Michael Dastugue as chief financial officer, effective May 1, 2021. Dastugue brings over 30 years of financial leadership, most recently serving as CFO at Walmart U.S. with a focus on profitability. He aims to drive growth and execute HanesBrands' strategic plan. With a strong background in financial planning and analysis, Dastugue is expected to enhance the company’s financial performance and leadership capabilities.
HanesBrands (HBI) will release its Q1 2021 earnings on May 11, 2021, prior to market opening. The company will detail its results during a virtual Investor Day at 8:30 a.m. EDT the same day, featuring presentations on its Full Potential growth plan and a Q&A session. HanesBrands is known for its strong apparel brands, including Hanes and Champion, and operates globally with about 61,000 employees. Investors can find further information by visiting www.Hanes.com/Investors.
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