Hanesbrands Inc

HBI

Equity

ISIN US4103451021 / Valor 2644495

New York Stock Exchange, Inc (2024-12-11)

USD 8.66+2.97%

Hanesbrands Inc
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About company

Hanesbrands Inc. (NYSE: HBI) is a prominent global apparel company, renowned for producing everyday clothing that emphasizes comfort, quality, and value. The company's portfolio includes several iconic brands such as Hanes, Champion, Bonds, Maidenform, and Bali, each holding a significant position in its respective market segment. Hanesbrands distinguishes itself in the apparel industry by manufacturing over two-thirds of its products in company-owned facilities or through dedicated contractors, allowing for greater control over costs, scalability, flexibility, and adherence to ethical and sustainable practices. With a workforce of 48,000 employees across 29 countries, Hanesbrands has launched its Full Potential plan aimed at driving revenue and profit growth over the next three years and beyond. The company's commitment to sustainability and ethical business practices is evidenced by its high scores in the CDP Climate Change and Water Security Reports, alongside a history of receiving accolades for its environmental efforts.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Net Sales

Hanesbrands Inc. reported net sales of $1.16 billion for the first quarter of 2024, which was at the midpoint of the Company’s expected range. This represents a decrease of approximately 17% compared to the prior year, with 120 basis points due to the U.S. Sheer Hosiery divestiture and 105 basis points due to unfavorable foreign exchange rates.

Gross Margin

The company achieved a GAAP and Adjusted gross margin of 39.9% in the first quarter of 2024, marking an increase of 750 and 720 basis points, respectively, compared to the prior year. This improvement was driven by lower input costs, cost savings initiatives, and a favorable business mix.

Operating Profit

Hanesbrands Inc. reported a GAAP operating profit of $52 million for the first quarter of 2024. The Adjusted operating profit was $84 million, which exceeded the high-end of the Company’s expectations and represented a 32% increase over the prior year.

Cash Flow and Inventory

The company generated $26 million in cash flow from operations during the first quarter of 2024, a period that historically uses cash. Additionally, Hanesbrands Inc. reduced its inventory by 28% year-over-year through disciplined working capital management and lower input costs.

Market Share and Innovation

Hanesbrands Inc.'s U.S. Innerwear business gained an additional 50 basis points of market share in the first quarter of 2024. Sales from new product innovation increased by 19% over the prior year, supported by a significant increase in brand marketing investments, particularly for the Maidenform M product line and the Hanes SuperSoft product line.

Summarized from source with an LLMView Source

Key figures

124%1Y

-50.7%3Y

-42.2%5Y

Performance

54.6%1Y

53.1%3Y

53.5%5Y

Volatility