HanesBrands, a US-based global marketer of branded everyday basic apparel, reported 2.8 per cent sales growth to $1.80 billion in its fourth quarter (Q4) FY20 ended on January 2, 2021, compared to sales of $1.75 billion in same period previous year. However, company incurred net loss for the quarter of $332.16 million (Q4 FY19: net income $184.98 million).
HanesBrands, a US-based global marketer of branded everyday basic apparel, reported 2.8 per cent sales growth to $1.80 billion in its fourth quarter (Q4) FY20 ended on January 2, 2021, compared to the sales of $1.75 billion in same period previous year. However, company incurred net loss for the quarter of $332.16 million (Q4 FY19: $184.98 million).#
“We delivered solid sales growth in the fourth quarter, with continued revenue momentum in our largest businesses and strong market share performance in our Innerwear and Activewear segments,” Steve Bratspies, Hanes chief executive officer, said in a press release.
Gross profit during Q4 FY20 plunged to $124.80 million ($706.74 million). Selling, general and administrative expenses rose to $568.54 million ($463.32 million). Company reported operating loss for the quarter of $443.73 million (operating profit: $243.41 million).
Sales of innerwear segment during Q4 FY20 grew 19.7 per cent to $668.19 million ($558.30 million). While, activewear sales fell 7.1 per cent to $403.11 million ($376.36 million). International sales increased 2.2 per cent to $664.86 million ($650.80 million).
The company recorded $28 million in revenue from personal protective garments (PPE) globally in Q4.
“We are implementing our Full Potential plan with the goal of creating a consumer-centric company that delivers long-term growth and higher profitability,” Bratspies said.
As part of the implementation of its Full Potential plan, the company determined that it no longer views PPE as a long-term growth opportunity.
Fibre2Fashion News Desk (JL)
20240830145952.gif)
20240925092649.png)
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
20240927123557.jpg)
