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Hanesbrands, Inc. (HBI) is a globally recognized manufacturer and marketer of everyday basic apparel. Headquartered in Winston-Salem, North Carolina, Hanesbrands is known for its iconic innerwear and activewear apparel brands, which include Hanes, Champion, Playtex, Bali, Maidenform, Flexees, JMS/Just My Size, Barely There, Wonderbra, and Gear for Sports. The company also boasts a strong international presence with brands such as Zorba, Sol y Oro, Rinbros, Track N Field, and Ritmo.
Hanesbrands' extensive portfolio is well-diversified across different segments and regions, enabling it to operate through various retail channels, including wholesale distribution to discount, midmarket, and department store retailers, as well as direct-to-consumer sales via physical stores and e-commerce platforms. Vertically integrated, Hanesbrands produces more than 70% of its products in company-controlled factories spread across over three dozen countries. This vertical integration ensures greater control over quality, cost, and supply chain efficiencies.
Founded in 1901, Hanesbrands has a longstanding history of delivering high-quality apparel. The company made a significant acquisition in October 2013 when it bought Maidenform Brands, Inc., thereby adding the Maidenform, Lilyette, and Flexees brands to its impressive portfolio. As of 2012, Hanesbrands was ranked No. 512 on the Fortune 1000 list, with more than $4.5 billion in sales and employing approximately 51,500 people across more than 25 countries.
Recent achievements and sustainability initiatives
Hanesbrands is deeply committed to sustainability, with ambitious goals for 2025 and 2030 focusing on three pillars: People, Planet, and Product. By 2030, the company aims to positively impact the lives of 10 million people. As of 2023, they have already reached 3.4 million through various creative sustainability initiatives. Key programs like 'Green for Good' invest savings from recycling into community improvement projects, providing access to medical services, funding health clinics, and facilitating over 1,500 life-changing surgeries.
On the environmental front, Hanesbrands has achieved a notable 50% reduction in Scope 1 and 2 greenhouse gas emissions since 2019, alongside reductions in water use and packaging weight. The company aims for zero waste across its operations by 2025 and 100% renewable electricity by 2030. Hanesbrands has pioneered innovative projects such as using biomass boiler technologies and solar power, significantly reducing its carbon footprint.
Hanesbrands has been recognized with various awards including the Energy Star Sustained Excellence Award and the A- score in the 2023 CDP Climate Change Report and CDP Water Security Report. These accolades affirm Hanesbrands' leadership in sustainability and its ongoing commitment to creating a positive impact.
For more information about Hanesbrands' sustainability initiatives, visit their dedicated platform at hbisustains.com.
HanesBrands announced that Champion Europe contributed personalized apparel to 240 athletes and volunteers at the first European Unified Youth Basketball Tournament in Italy. This initiative highlights a long-term partnership with the Special Olympics to foster inclusion and celebrate athletes of all abilities. Athletes from 16 European nations participated, training and competing together. Champion Europe emphasizes its commitment to social inclusion and community engagement, promoting respect among all individuals. This partnership has been ongoing for over 20 years in the United States.
HanesBrands Inc. (NYSE: HBI) has appointed
His expertise is expected to enhance HanesBrands' ongoing initiatives to strengthen its supply chain and promote diversity. Irvin's term extends through the 2024 annual meeting, and he will serve on the Governance and Nominating Committee.
NORTHAMPTON, MA / ACCESSWIRE / February 22, 2023 / HanesBrands partnered with the Super Soul Party initiative to support the homeless community during Super Bowl Sunday. The collaboration resulted in the creation of 'dignity bags' containing socks, sweatshirts, and essential items for 500 individuals attending various Super Soul events nationwide. Chris Fox, the chief sustainability officer of Hanes, emphasized the importance of connecting with communities and providing comfort during challenging times. This initiative aligns with HanesBrands' commitment to corporate social responsibility and community engagement.
Hanes, America's leading underwear brand, has launched the Hanes Originals collection as part of its new “Make Yourself Comfortable” campaign. This collection features modern prints and colors across various categories, emphasizing comfort without sacrificing style. It includes a wide range of products from innerwear to activewear, marking the largest cross-category launch in Hanes' 125-year history. The collection integrates innovative fabrics and designs aimed at younger consumers. Additionally, Hanes promotes sustainability, encouraging energy-saving washing practices.
HanesBrands has made significant strides in its sustainability efforts, achieving 100% renewable energy at its Dos Rios plant in the Dominican Republic under a Solar Power Purchase Agreement (SPPA). This agreement, the largest of its kind for the company, ensures the facility’s electrical needs are met for the next ten years. The plant, capable of producing 2 million pounds of fabric weekly, will help eliminate nearly 33,000 metric tons of carbon dioxide annually. Additionally, solar panel installations in Honduras are expected to provide 50% of energy for manufacturing. These projects underline HanesBrands' commitment to sustainable practices and financial prudence, with projections of the installations paying for themselves in just over three years.
HanesBrands Inc. (NYSE: HBI) announced the pricing of its $600 million offering of 9.000% senior unsecured notes due 2031. The notes, guaranteed by certain subsidiaries, are set to close on February 14, 2023. Proceeds will be used to redeem outstanding 4.625% and 3.5% Senior Notes due 2024, along with related fees. The offering adheres to Regulation S and Rule 144A of the Securities Act and is aimed at qualified institutional buyers and non-U.S. persons. Importantly, the notes are unregistered and subject to customary closing conditions.
HanesBrands Inc. (NYSE: HBI) has announced plans to offer $600 million in senior unsecured notes due 2031. This private offering, subject to market conditions, aims to redeem existing 4.625% and 3.5% Senior Notes due 2024. The notes will be guaranteed by certain domestic subsidiaries and offered only to qualified institutional buyers and non-U.S. persons. The offering is exempt from registration under the Securities Act. Funds will also be sourced from a new senior secured term loan B facility and company cash. Forward-looking statements indicate risks regarding their multi-year growth strategy and market competition.
HanesBrands Chief Sustainability Officer, Chris Fox, appeared on the WWD Voices Podcast to discuss the company's sustainability efforts, partnerships, and its strategic position in the apparel industry. During the podcast, Fox highlighted HanesBrands' commitment to sustainable practices and environmental responsibility. The conversation emphasizes the critical role of sustainability in the business model, showcasing how the company integrates eco-friendly initiatives into their operations. To listen to the full podcast, visit the provided link.
HanesBrands reported fourth-quarter net sales of $1.47 billion, exceeding guidance. Despite this, it recorded a GAAP EPS loss of $1.19 due to a non-cash reserve for deferred tax assets. The company has shifted its capital allocation strategy by eliminating dividends to focus on debt reduction. Full-year net sales declined 8% to $6.23 billion, influenced by foreign exchange impacts. For 2023, Hanes expects sales between $6.05 billion and $6.20 billion, and operating cash flow of $500 million. The company aims for long-term targets of $8 billion in net sales and a 14.4% operating margin by 2026.
HanesBrands (NYSE: HBI) has announced its fourth-quarter 2022 conference call scheduled for February 2, 2023, at 8:30 a.m. ET. The call will reveal financial results for the quarter ending December 31, 2022. Interested participants must register in advance to join the call by following a provided link. A webcast will also be accessible through the investor section of HanesBrands' corporate website. The event is anticipated to conclude by 9:30 a.m. ET. Replays will be available online post-event. HanesBrands is recognized globally for its quality apparel brands like Hanes and Champion, employing approximately 59,000 associates worldwide.
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