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Hanes Reports Second Quarter Earnings for 2017

Hanes reports its second-quarter earnings for 2017. 

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Hanes
Hanes

WINSTON SALEM, N.C.Hanes reports its second quarter earnings for 2017. The company reports net sales of $1.65 billion, an increase of 12 percent, primarily from recent acquisitions. Since 2016, Hanes has completed multiple global acquisitions in countries such as Australia and Italy.

In addition to net sales, Hanes reports that organic sales trends have improved sequentially for the second consecutive quarter, and the company expects those sales to contribute to growth in the second half.

“We continued our strong start to 2017 in the second quarter, consistent with our guidance,” says Gerald W. Evans, CEO of Hanes. “Our team is doing a great job executing our ‘Sell More, Spend Less, Generate Cash’ strategies and laying the foundation for taking our performance to the next level in the years to come through our Project Booster initiative. We are planning for the future while executing in the present.”

Hanes originally introduced its Project Booster initiative during the first quarter of 2017. The project aims at accelerating growth of the company’s Champion line and focuses investments on marketing and branding for other lines.

The company says it expects total net sales of approximately $1.80 billion in the third quarter, an increase of approximately 2.5 percent compared with the third quarter 2016. Hanes also says it projects more-back-to-school shipments in the third quarter compared to 2016 as retailers time orders closer to sales events.

To see the full report, visit http://bit.ly/2f8OVxY

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Mike Clark

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