(Filed Under Financial and General Interest News). HanesBrands saw an increase in income in the last fiscal year despite slow sales in the 4th quarter. Hanes chairman and CEO Richard A. Noll said the underwear and sock categories were particularly strong for the company. In fact, the company is hoping that in 2012 sales and profit growth from their innerwear products will help offset the predicted decline in the outerwear segment, which includes activewear products sold to the screen-print industry.
For the fiscal year 2011, the company reported sales of $4.64 billion, up from $4.32 billion last year. Net income was up 26 percent from $211.2 million last year to $266.7 million this year.
The company attributed weak 4th quarter sales to “an unexpected and substantial” slowing of orders. Nonetheless, Hanes is predicting sales to increase two to four percent in the coming year.
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