Hanesbrands Inc Stock Price, News & Analysis

Champion announced its inaugural nationwide Hoodie Swap event on November 19, allowing fans to exchange any pre-owned hoodie for a new Champion hoodie for free at participating stores. This promotion celebrates Champion’s legacy as the inventor of the hoodie. The event will run from 11:00 am to 2:00 pm, or while supplies last, with a limit of one swap per customer. Additionally, Champion will donate all swapped hoodies to Refried Apparel for sustainable repurposing, aligning with the brand's commitment to social responsibility.

HanesBrands reported a 7% decline in net sales to $1.67 billion for Q3 2022, with a 3% drop in constant currency. GAAP EPS from continuing operations was $0.23, down from $0.50 year-over-year, while adjusted EPS was $0.29 compared to $0.53 in Q3 2021. The company anticipates further challenges in Q4, projecting net sales of $1.40-$1.45 billion, indicating a 15% decline year-over-year in constant currency. Operating profit fell to $141 million, with gross profit down 20%. The board declared a cash dividend of $0.15 per share.

HanesBrands (NYSE: HBI) will host an internet audio webcast for its third-quarter 2022 investor conference call at 8:30 a.m. ET on November 9, 2022. The company will release its financial results for the quarter ending October 1, 2022 before the call. Interested participants can register in advance for the call or access the live webcast via the corporate website www.Hanes.com/Investors. A replay will be available post-call.

HanesBrands (HBI) has signed a 10-year strategic partnership with the University of California, Berkeley, granting HBI exclusive rights to design, manufacture, and distribute collegiate fan apparel. The agreement encompasses popular brands including Champion and Hanes, enhancing the university's retail presence. This partnership aligns with HBI's commitment to sustainable practices and responsible manufacturing. The initiative reflects HBI's strategy to expand its market reach and supports the university's branding efforts.

Champion Athleticwear, a pioneer in sportswear since 1919, celebrates its legacy as the inventor of the hoodie with the launch of the new “Be Your Own” campaign. Aiming to establish its position as the original hoodie brand, the campaign emphasizes the hoodie as a symbol of comfort and style. The campaign, developed with Energy BBDO, features Champion's signature styles, including the iconic Reverse Weave hoodie. The campaign will reach audiences via various media, as the brand showcases its innovation and commitment to quality in athleticwear.

HanesBrands (HBI) has announced a multiyear extension of its apparel partnership with the University of Michigan, granting exclusive rights to design, manufacture, and distribute Wolverine fanwear in mass retail. This agreement underscores HBI's status as the largest supplier of collegiate fan apparel and reinforces its continued collaboration with the M Den, the official retailer of Michigan Athletics. The partnership is expected to benefit from Michigan's strong alumni network and sports performance, especially following the football team's success last season.

Hanes introduces its new Comfort, Period.™ underwear line, aimed at making period protection more accessible and affordable. Designed for comfort and effectiveness, the underwear features a built-in stain protection liner and multi-layer technology for leak prevention. Priced between $10.99 and $19.99, these reusable options provide a sustainable alternative to disposables, especially amidst recent tampon shortages. Consumer tests show high satisfaction rates, with 75% agreeing the product boosts confidence.

HanesBrands reported second-quarter 2022 net sales of $1.51 billion, a 14% decline year-over-year, impacted by a cyber event and weaker consumer demand. Adjusted earnings per share was $0.28, down from $0.47 a year earlier. The company noted a significant negative effect from the cyber attack, estimated at $100 million in sales and $35 million in operating profit. Despite these challenges, HanesBrands continues to execute its Full Potential growth plan and declared a cash dividend of $0.15 per share.

HanesBrands (NYSE: HBI) will host a second-quarter 2022 investor conference call on August 11, 2022, at 8:30 a.m. EDT, following a news release disclosing financial results for the quarter ended June 30, 2022. Investors can register to participate via telephone or access the webcast through the company's investor section at www.Hanes.com/Investors. A replay will be available post-call until August 11, 2023.