American apparel company HanesBrands' CFO Michael Dastugue resigns

“I would like to thank Steve and the board for selecting me for the CFO role. I have sincerely enjoyed working with the entire HanesBrands team, and I’m truly appreciative of the organisation for understanding my desire to spend more time with my family. I am confident that the company will continue to aggressively execute the Full Potential plan, and I wish everyone at the company great success in the coming years,” said Dastugue.

HanesBrands expects to report fourth quarter (Q4) 2022 net sales slightly above the top end of its outlook range and adjusted operating profit at the midpoint of the range, the company said in a press release.

“We are pleased we delivered fourth quarter net sales and adjusted operating profit that were above or in-line with our outlook given the dynamic macro environment, including ending 2022 with inventory units below last year’s level,” said Steve Bratspies, CEO HanesBrands. “Our Full Potential plan is progressing, and we have a clear financial strategy that we will continue to execute, including plans to refinance upcoming maturities as well as increase cost savings.”

Fibre2Fashion News Desk (DP)