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HanesBrands Half-Year Sales & Earnings Increase

Strong growth in Champion brand sales helped drive the gains.

HanesBrands (asi/59528), a global apparel maker whose basics sell throughout the promotional products industry, increased sales and earnings in the second quarter and the first six months of 2019, according to financial data released Aug. 1.

The Winston-Salem, NC-based company said total sales for the half-year were nearly $3.35 billion, up 5% from 2018. For the second quarter, sales rose nearly 3% to $1.76 billion.

Meanwhile, net income for Q2 tallied $153.97 million, a 9.5% year-on-year jump. For 2019’s initial six months, net income accelerated 6.1% to $233.45 million. Both basic and diluted earnings per share for the half-year were $0.64 compared to $0.61 in 2018. For the second quarter, basic and diluted EPS added up to $0.42, up from $0.39. Operating profit for the quarter and half-year grew too, reaching $234 million for Q2 and $382 million for the six-month period.

“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,” said Hanes CEO Gerald W. Evans Jr. 

Looking ahead, HanesBrands expects 2019 net sales of $6.885 billion to $6.985 billion, GAAP operating profit of $900 million to $930 million, adjusted operating profit of $955 million to $985 million, GAAP EPS of $1.59 to $1.67, adjusted EPS of $1.72 to $1.80, and net cash from operations of $700 million to $800 million.