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current news

Hanes Projects Growth

(Filed Under Financial and General Interest News). Hanesbrands, Inc. is projecting sales growth over the next year and beyond. Based on significant shelf-space, distribution gains and a potential rebound in consumer spending, the company reported that its net sales to grow 5 to 8 percent in 2010, and earnings per share to grow 25 to 35 percent. Based on these expectations, the company announced that it could double diluted earnings per share over the next three to four years.

Hanesbrands brought in total sales of approximately $3.9 billion last year from its five major business segments of innerwear, outerwear, direct to consumer, hosiery and international. Over the long term, the company expects its innerwear and outerwear segments to sustain sales growth in the low to mid single digit range, direct to consumer to grow in the high single-digit range, and hosiery to potentially fatten after declining a projected10 percent in 2010.

“We have record shelf space gains for 2010 – the equivalent of 62 additional miles of shelf space as our customers look for brands and products that will help them increase sales and profits,” William J. Nictakis, Hanesbrands president and chief commercial officer, said. “By building upon this successful model and helping our retailers make these space gains more productive, we believe that we can consistently grow in 2011 and beyond.”

In its international segment, which made up approximately 11 percent of sales in 2009, the company expects growth in the Americas and Asia.

“Our major international retail businesses operate in Mexico, Canada, Japan, India, Brazil and China where a substantial amount of gross domestic product growth outside the United States will be concentrated over the next 10 years,” Gerald Evans, president of international business and global supply chain for Hanesbrands, said. “We see a unique opportunity to integrate each of our international businesses into our global supply chain so that we are able to dramatically lower product costs, build share and expand into adjacent product categories […] We fully expect that our international sales will become another growth driver for Hanesbrands, growing mid single digits in 2010 at an accelerated rate of high single digits to low double digits annually in the years ahead.”

Hansbrands labels include Hanes, Champion, Playtex, Bali, JMS/Just My Size, barely there and Wonderbra.

more Financial and General Interest News >>

Published 02-23-2010 by Amanda Torres Price

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