HanesBrands Reports First-quarter 2013 Financial Results
Significant margin improvement as a result of the company's Innovate-to-Elevate initiatives and lower cotton costs.
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First-Quarter 2013 Financial Highlights and Business Segment Summary
Key accomplishments for the first quarter include:
- Space Gains Driven by Innovate-to-Elevate Platforms. The company continues to secure net space gains at retailers through its Innovate-to-Elevate platforms, which integrate the strengths of the company's iconic brands, low-cost supply chain and product innovation. These platforms include ComfortBlend fabric underwear, socks and T-shirts, Smart Sizes seamless bras, and Tagless apparel.
- Strong First-Quarter Operating Margin. The company achieved a first-quarter operating margin of 9 percent. Innovate-to-Elevate initiatives, which support higher unit selling prices and lower unit costs, and lower cotton costs drove a nearly 800-basis-point improvement in operating margin over the first quarter a year-ago.
- Reduced Quarter-End Inventory Versus a Year Ago. Hanes continues to focus on inventory management, with its quarter-ending inventory level 17 percent lower than a year ago.
Key segment highlights for the first quarter include:
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- Companies:
- Hanes Printables
- Outer Banks
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