Hanesbrands Reports Financial Results for Second Quarter 2015
Hanesbrands Inc., Winston-Salem, N.C., reported the sixth consecutive quarter of record year-over-year growth for net sales, adjusted operating profit and adjusted earnings per share, due to benefits of acquisitions and Innovate-to-Elevate strategies.
Results were driven by continued acquisition benefits, global supply chain performance and margin expansion. Net sales increased 13 percent to $1.52 billion in the quarter ended July 4, 2015, while adjusted operating profit excluding actions increased 15 percent to $265 million and adjusted EPS excluding actions increased 16 percent to $0.50, according to its release on second-quarter results.
“We continue to deliver double-digit growth in adjusted operating profit and EPS as expected, and we are tracking to our full-year profit expectations,” Richard A. Noll, Hanesbrands Inc.'s chairman and CEO, said. “The integrations of our DBApparel and Knights Apparel acquisitions are proceeding on plan, and we continue to reap benefits from the past acquisitions of Gear for Sports and Maidenform. Our brand innovation platforms and global supply chain performance continue to drive margin improvement.”
For 2015, Hanesbrands Inc. has updated its full-year guidance for net sales. The company now expects full-year net sales of slightly less than $5.9 billion, expects adjusted operating profit of $855 million to $875 million, and continues to expect adjusted EPS of $1.61 to $1.66. The company’s 2015 guidance represents growth over 2014 results of nearly 11 percent for net sales, 12 percent to 15 percent for adjusted operating profit, and 13 percent to 17 percent for adjusted EPS.
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