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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 celebrates the 15th anniversary of its Hanes for Good program, which has donated over 6 million essential apparel items to support unhoused communities across all 50 states, Washington D.C., Puerto Rico, and Guam since 2009. The program, which began by addressing the critical need for socks in homeless shelters, has expanded to include donations of t-shirts, underwear, sweats, and period underwear.
In recent initiatives, the program delivered 20,000 apparel pieces to areas impacted by 2024 Hurricanes Helene and Milton, and donated 9,000 pairs of women's period underwear across 24 partner locations. The program now collaborates with 485 partner organizations and is part of HanesBrands' broader commitment to positively impact 10 million people by 2030.
HanesBrands celebrates the 15th anniversary of its Hanes for Good program, which has donated over 6 million essential apparel items to support unhoused communities across all 50 states, Washington D.C., Puerto Rico, and Guam since 2009. The initiative began by addressing the critical need for socks in homeless shelters and expanded to include t-shirts, underwear, and period underwear.
The program recently provided 20,000 pieces of apparel to areas impacted by 2024 Hurricanes Helene and Milton, and donated 9,000 pairs of women's period underwear across 24 partner locations. In 2021, Hanes contributed to a Guinness World Record with 21,500 socks forming the world's longest sock line. Working with 485 partner organizations, this initiative is part of HanesBrands' broader goal to positively impact 10 million people by 2030.
Bonds, an Australian brand owned by HanesBrands (HBI), has partnered with Melbourne-based label Bugskin to transform their 'As Worn By Us' campaign billboards into edition tote bags. The initiative, launched following their April 2024 national campaign featuring over 100 portraits of Australians wearing Bonds products, demonstrates the company's commitment to sustainability and waste reduction. Bugskin takes approximately four weeks to create 100 bags from the recycled billboards, using silver hardware, seatbelt straps, and PVC in the manufacturing process.
HanesBrands' Australian brand Sheridan has partnered with BlockTexx to launch Australia's first homewares recycling program. The initiative allows consumers to return pre-loved quilt covers, sheets, and towels of any brand to Sheridan stores. BlockTexx's S.O.F.T. technology processes these items at their Loganholme facility, converting textile waste into high-grade raw materials for various industries. This program addresses a significant environmental challenge, as the average household has over 30 pounds of worn linen, and global textile waste could exceed 150 million tons by 2050.
HanesBrands responds to Hurricane Helene's devastation in western North Carolina through immediate relief efforts. The company has partnered with Delivering Good and the United Way to provide essential apparel, fleece products, and supplies to affected communities. Led by Global Sustainability Officer Teddy Mendoza, HanesBrands associates are actively collecting and distributing necessities including bottled water, food, and baby supplies. The company continues supporting victims of both Hurricanes Helene and Milton, working alongside organizations like United Cajun Navy, World Vision, Caring For Others, and 4Good Community to deliver aid to communities where flooding and mudslides have destroyed homes and businesses.
HanesBrands reported strong Q3 2024 results with net sales of $937 million, consistent with prior year on organic constant currency basis. The company achieved significant margin improvements with GAAP and Adjusted gross margins increasing by 530 and 525 basis points to 41.7% and 41.8%, respectively. Operating margins also improved, with GAAP and Adjusted EPS increasing 550% and 850% compared to prior year. The company generated $92 million in operating cash flow and reduced leverage to 4.3 times net debt-to-adjusted EBITDA. Following the sale of the global Champion business, HanesBrands is on track to pay down approximately $1 billion of debt in H2 2024, with $870 million already paid down by October.
Berlei, a HanesBrands Australian brand, celebrates 20 years of partnership with Breast Cancer Network of Australia (BCNA). Since 2004, the collaboration has raised $15 million for breast cancer support and distributed 220,000 My Care Kits containing post-surgery recovery bras. The Pink Bra Collection, launched annually in October, donates $10 from each sale to BCNA. The initiative is expanding with a new recovery bra design featuring soft viscose bamboo material, form pockets, and adaptable closures. This effort aligns with HanesBrands' goal to improve 10 million lives by 2030.
Harley-Davidson and Champion have launched a -edition capsule collection, reviving their historic partnership from the 1940s. The collection combines Champion's athletic wear expertise with Harley-Davidson's motorcycle heritage, featuring sweatshirts, tees, and baseball caps with modern cuts and oversized graphics. The line emphasizes both durability and comfort, incorporating premium materials like heavyweight fleece and cotton jersey with reinforced stitching. Products include the Fanatic Crew Neck Sweatshirt, Fanatic Tee, and Adjustable Baseball Cap, available through h-d.com/champion and select dealers in the U.S., with planned global expansion.
HanesBrands Inc. (NYSE: HBI) has completed the sale of its global Champion business to Authentic Brands Group. This transaction marks a significant milestone in HanesBrands' strategy to strengthen and simplify its business. CEO Steve Bratspies stated that with this sale and internal cash generation, the company expects to pay down approximately $1 billion of debt in the second half of 2024.
The company anticipates being well-positioned to generate strong shareholder returns over the next several years through topline growth, margin expansion, double-digit earnings per share growth, and further deleveraging of its balance sheet. Additional details about the transaction have been provided in a Form 8-K filed with the SEC.
HanesBrands announced its second-quarter 2024 results, with a better-than-expected performance in the U.S. innerwear business and a significant margin expansion. The company revealed plans to sell its global Champion business and completed the exit of U.S. outlet stores, reclassifying both to discontinued operations.
For continuing operations, net sales decreased by 4% to $995 million, while adjusted operating profit increased by 46% to $126 million. Adjusted earnings per share (EPS) surged by 650% to $0.15. Notably, the company aims to pay down around $1 billion of debt in the second half of 2024, utilizing proceeds from the Champion sale.
HanesBrands also adjusted its full-year 2024 guidance, projecting net sales of $3.59-$3.63 billion and adjusted EPS of $0.31-$0.37. For the third quarter, the company anticipates net sales of $920-$950 million and adjusted EPS of $0.09-$0.14.
Positive internal cash flow and strategic cost-saving measures are expected to drive further margin improvements and shareholder value in the coming years.
