HanesBrands, Salem-Winston, N.C. recently announced strong second-quarter 2019 results with net sales, operating profit and earnings per diluted share achieving the high end of company guidance, primarily due to activewear sales growth.
At the end of the second quarter on June 29, the company’s activewar segment increased sales by more than 10%.
HanesBrands’ net sales increased 3% to $1.76 billion. In constant currency, net sales increased 5%, the eighth consecutive quarter of organic constant-currency sales growth. Innerwear segment sales met expectations, while international sales growth of 4% exceeded expectations. Global sales of Champion-branded activewear and innerwear increased more than 50%, excluding the United States mass channel, according to the company.
“Our successful growth strategies drove strong second-quarter results and first-half momentum, including outstanding Champion brand growth, very effective product innovation, international growth and continued consumer-direct sales growth,” says Hanes CEO Gerald W. Evans Jr. “This momentum, combined with our second-half plans and visibility, gives us confidence in our ability to achieve full-year guidance at the midpoint or higher. Champion bookings remain strong, additional product innovation is planned, the outlook for international contributions remains positive and our operating margin is expanding. We are solidly on track to meet our cash-flow and debt-leverage goals.” — D.S.
