US: Hanesbrands returns to profit in Q4
- Q4 profit US$28.1m, versus $1.1m loss
- Revenues soar 16% to $1.15bn
- Expects continued double-digit growth
Apparel giant Hanesbrands returned to profit in its fourth quarter, helped by its strongest revenue gains of the year.
The US business has posted four consecutive quarters of accelerating revenue growth, up 8%, 9%, 11% and 16% respectively.
It now expects continued double-digit growth in 2011, projecting net sales at $4.85-5bn and earnings per share of $2.60-2.80.
Welcoming what he called “a great year”, chairman and CEO Richard Noll said: “Our growth platform is working and we are focused on continued share gains.
“With our strong brands and global supply chain, we are in good position to address the challenges of inflation with our retail partners and continue increasing market share.”
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