HanesBrands Reports Second Consecutive Year of Record Sales
HanesBrands Inc., Winston-Salem, N.C., reported its 2014 financial results, which include record results for the second consecutive year for net sales, adjusted operating profit and adjusted diluted earnings per share.
In 2014, net sales increased 15 percent, adjusted operating profit increased 28 percent and adjusted EPS increased 45 percent. Superb supply chain manufacturing performance, benefits from the acquisitions of Maidenform Brands Inc. and DBApparel, and continued strong contributions from Innovate-to-Elevate product platforms drove the company’s record results and strong fourth-quarter performance.
“We had another outstanding year in 2014, generating significant shareholder value and again achieving record results for sales, operating profit and EPS,” Richard A. Noll, Hanes chairman and CEO, said. “We are in the midst of a multiyear period of strong growth supported by our powerful company-owned global supply chain, Innovate-to-Elevate product platforms and acquisitions. Our guidance for 2015 translates into another year of double-digit EPS growth and what would be another record year for sales, profit and EPS, despite the challenges of currency exchange rates.”
Hanes has issued 2015 full-year guidance, including expectations for net sales growth of approximately 9 percent (approximately $5.775 to $5.825 billion), adjusted operating profit growth of 9 to 12 percent (approximately $835 to $855 million), and adjusted EPS growth of 11 to 15 percent (approximately $6.30 to $6.50), all strong growth rates despite significant negative impacts from foreign currency exchange rates.
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