Apparel group Hanesbrands could double its earnings over the next three to four years thanks to distribution gains and a potential retail recovery, the company said.

Addressing an investors meeting in New York yesterday (23 February), executives said the company could achieve the target based on net sales growth of 5-8% and net earnings growth of 25-35% this year.

They also based their bullish predictions on long-term annual growth targets, significant shelf-space distribution gains and a mooted rebound in consumer spending.

“Hanesbrands is at an inflection point to begin realising its significant growth potential,” said chairman and CEO Richard Noll.

“We have spent the last few years building a strong growth platform that utilises our big brands to drive top-line growth domestically and internationally, a low-cost global supply chain to drive margin improvement, and strong cash flow to support multiple strategies for earnings growth.

“We see very strong growth in 2010 and are targeting consistently strong growth for the longer term.”

Hanesbrands is targeting annual net sales growth of 2-4% and annual earnings per share growth of 10-20%, the company said.