Hanesbrands Inc Stock Price, News & Analysis

HanesBrands has partnered with The Ohio State University as a primary licensee for fan apparel products. This six-year agreement, facilitated by Beanstalk, involves the distribution of a wide range of Ohio State-branded apparel across various retail channels. HanesBrands, known for its commitment to socially responsible practices, will enhance the university's brand while generating multi-million dollar royalty revenues. The collaboration also includes academic support, internships, and social responsibility initiatives, alongside retail enhancements for Buckeye apparel.

HanesBrands Inc. (HBI) reported fourth-quarter net sales of $1.8 billion, up from $1.75 billion the previous year, driven by strong performance in its Innerwear and Activewear segments. The company recognized $611 million in inventory charges related to a write-off of PPE inventory and SKU reductions. Adjusted operating profit decreased 10% to $217 million. Despite challenges from COVID-19, the company’s Full Potential plan aims to enhance profitability and streamline operations. A quarterly dividend of $0.15 per share was declared, marking the 32nd consecutive dividend payout.

HanesBrands (NYSE: HBI) will host an internet audio webcast for its fourth-quarter 2020 investor conference call on Feb. 9, 2021, at 8:30 a.m. EST. Financial results for the quarter ending Jan. 2, 2021, will be disclosed ahead of the call. The call includes prepared remarks and a Q&A session, accessible via Hanes' investor section on their website. Replays will be available online and via telephone from Feb. 9 to Feb. 16, 2021. HanesBrands operates globally with a strong portfolio of brands and approximately 63,000 employees.

HanesBrands (NYSE: HBI) has appointed Joe Cavaliere as group president of global innerwear, effective February 8, 2021. This new role comes as Howard Upchurch, who served for 34 years, retires. Cavaliere brings over 30 years of experience in retail and consumer goods, having previously held leadership positions at C&S Wholesale Grocers and Newell Brands. CEO Steve Bratspies expressed confidence in Cavaliere’s ability to drive innovation and growth within the company’s well-known innerwear brands like Hanes and Playtex.

HanesBrands (NYSE: HBI) celebrates a significant legal victory after the Nanjing Intermediate People’s Court ruled in its favor in a trademark infringement case involving the Champion brand in China. The court mandated six defendants to stop producing counterfeit Champion products and to pay over $600,000 in fines. Jon Ram, president of global activewear, emphasized the company's commitment to defending its intellectual property both in China and globally.

HanesBrands (NYSE: HBI) has appointed Tanya Deans as president of Hanes Australasia, effective February 8, 2021, succeeding David Bortolussi. Deans, previously group general manager at Bras N Things, has over 25 years at Hanes Australasia in leadership roles. She will oversee 4,400 associates and manage iconic brands like Bonds and Champion, along with a growing e-commerce sector and over 450 stores. CEO Steve Bratspies praised her leadership skills and vision for future growth, emphasizing a commitment to sustainability.

HanesBrands (NYSE: HBI) has appointed Cheryl K. Beebe to its Board of Directors, expanding the board to nine members. Beebe brings over 30 years of experience from Ingredion, where she served as CFO and executive vice president. Her term will last until the 2021 annual meeting of stockholders. She will contribute financial expertise, especially in global strategy, as the company aims for long-term growth centered on consumer needs. Beebe's credentials include leadership roles and board memberships, enhancing HanesBrands' strategic direction.