For the Q2 period ending 28 June, sales at Hanesbrands increased 1.8% to $991.3m
Gross profit substantially improved by 38% to $412m and selling, general and administrative expenses improved.
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Hanesbrands recorded a Q2 operating profit of $154.65m from an operating loss for the period a year earlier of $63.2m. It moved from a net loss of $298m to a profit of $82m.
For the half-year period, sales improved by 1.9%. Hanesbrands booked an operating profit of $234.6m, reversing an earlier loss, and its net profit increased to $72.2m from a loss of $337.5m.
“We continue to see the benefits of our growth strategy and prior transformation initiatives,” said CEO Steve Bratspies.
“With our strong performance to date and our visibility to cost savings and input costs, we raised our full-year outlook, which continues to reflect our expected impact from US tariffs. Our strategy is delivering consistent results, and we’re confident it positions us for continued long-term success. We have multiple avenues to drive increased shareholder returns over the next several years through consistent sales growth, additional margin expansion, and continued debt reduction.”
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By GlobalDataEarlier this year, Bratspies announced he will be stepping down before the end of 2025.
Last September Hanesbrands announced the divestiture of the Champion brand.
Hanesbrands FY Outlook
For the full year, Hanesbrands says it expects net sales from continuing operations of approximately $3.53bn, which includes projected headwinds of approximately $35m from changes in foreign currency exchange rates. Net sales are expected to increase slightly over prior year on both a reported and organic constant currency basis.
GAAP operating profit from continuing operations is expected to be approximately $471m and GAAP Earnings Per Share from continuing operations of approximately $0.59.
