Welcome to our dedicated page for Hanesbrands news (Ticker: HBI), a resource for investors and traders seeking the latest updates and insights on Hanesbrands stock.
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 (HBI) has partnered with Delivering Good to provide ongoing support for communities affected by Hurricane Ian. Following the storm, HBI donated over 90,000 clothing items to aid those in need during recovery efforts. Since their collaboration began nearly 10 years ago, they have distributed more than $45 million worth of products to assist communities in crisis. In 2022, HBI also donated 1.2 million items to flood victims in Kentucky. The partnership highlights HBI's commitment to supporting communities in their recovery and providing comfort during difficult times.
HanesBrands Inc. (NYSE: HBI) announced it expects to report fourth-quarter 2022 net sales slightly above expectations, with adjusted operating profit in line with forecasts. The company will hold a financial call on
HanesBrands collaborates with Champion Australia and HoMie to launch the Reborn capsule collection, featuring 50 unique recycled garments. Proceeds support HoMie's initiatives for homeless youth, including an eight-month paid internship program. The collection has upcycled over 1,800 pounds of waste into 2,190 garments. It incorporates NFC tags to share the collection’s social impact and enhance customer experience. This partnership aims to foster a zero-waste circular economy through innovation and environmental stewardship.
HanesBrands announced a significant achievement with its associates in Latin America planting approximately 100,000 trees as part of its global sustainability strategy. This initiative will capture about 6,100 metric tons of carbon dioxide, equating to recycling 2,100 tons of waste. The tree planting occurred across El Salvador (34,000 trees), Honduras (25,000 trees), and the Dominican Republic (41,000 trees). The project benefits local ecosystems by planting nearly 425 native species, reinforcing HanesBrands’ commitment to sustainability.
Champion announced its inaugural nationwide Hoodie Swap event on November 19, allowing fans to exchange any pre-owned hoodie for a new Champion hoodie for free at participating stores. This promotion celebrates Champion’s legacy as the inventor of the hoodie. The event will run from 11:00 am to 2:00 pm, or while supplies last, with a limit of one swap per customer. Additionally, Champion will donate all swapped hoodies to Refried Apparel for sustainable repurposing, aligning with the brand's commitment to social responsibility.
HanesBrands reported a 7% decline in net sales to $1.67 billion for Q3 2022, with a 3% drop in constant currency. GAAP EPS from continuing operations was $0.23, down from $0.50 year-over-year, while adjusted EPS was $0.29 compared to $0.53 in Q3 2021. The company anticipates further challenges in Q4, projecting net sales of $1.40-$1.45 billion, indicating a 15% decline year-over-year in constant currency. Operating profit fell to $141 million, with gross profit down 20%. The board declared a cash dividend of $0.15 per share.
HanesBrands (NYSE: HBI) will host an internet audio webcast for its third-quarter 2022 investor conference call at 8:30 a.m. ET on November 9, 2022. The company will release its financial results for the quarter ending October 1, 2022 before the call. Interested participants can register in advance for the call or access the live webcast via the corporate website www.Hanes.com/Investors. A replay will be available post-call.
HanesBrands (HBI) has signed a 10-year strategic partnership with the University of California, Berkeley, granting HBI exclusive rights to design, manufacture, and distribute collegiate fan apparel. The agreement encompasses popular brands including Champion and Hanes, enhancing the university's retail presence. This partnership aligns with HBI's commitment to sustainable practices and responsible manufacturing. The initiative reflects HBI's strategy to expand its market reach and supports the university's branding efforts.
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