Hanesbrands Inc Stock Price, News & Analysis

HanesBrands (NYSE: HBI) announced that CEO Steve Bratspies will depart by the end of 2025 or upon the appointment of his successor. The Board has initiated a comprehensive search for the next CEO with Spencer Stuart leading the executive search. Bratspies will step down from the Board concurrent with his CEO departure but will remain in an advisory role to ensure a smooth transition.

During his five-year tenure, Bratspies led significant transformations including overhauling the company's operating model, completing the Champion business sale, and positioning HanesBrands as a global powerhouse in basics and innerwear. Under his leadership, the company has achieved more consistent top-line growth, higher margins, and strong cash generation.

Board Chairman Bill Simon praised Bratspies' transformative leadership through turbulent industry conditions and highlighted the company's improved positioning for stronger performance and increased shareholder returns.

HanesBrands (NYSE: HBI) has announced details for its fourth-quarter 2024 earnings conference call, scheduled for February 13, 2025, at 8:30 a.m. ET. The company will release its financial results for the quarter ended December 28, 2024, prior to the call.

The conference call will be accessible via telephone through pre-registration and through a webcast on the company's investor relations website. The call, featuring prepared comments and a Q&A session, is expected to conclude by 9:30 a.m. ET. Replays will be available online after the event.

HanesBrands is a global manufacturer of basic apparel and innerwear brands, including Hanes, Bonds, Maidenform, and Bali. The company owns the majority of its worldwide manufacturing facilities and is known for its workplace quality and ethical business practices.

HanesBrands Inc. (NYSE: HBI) launches a new campaign titled 'If You Wouldn't Flaunt It, Refresh It' based on a survey of 2,000 U.S. adults revealing concerning underwear retention habits. The survey found that Americans keep underwear for an average of three years, with some holding onto pairs for six years or more. Key findings show that people typically have only four 'good' pairs of underwear, while women report having just three 'good' bras, often keeping them for up to four years.

The survey identified that holes (71%), stains (42%), and stretched-out waistbands and straps (39%) are the main reasons for replacement. Nearly half of Americans carry backup underwear, with 70% reporting situations where spare pairs were needed. The campaign promotes HanesBrands' variety of comfortable styles across their Hanes, Bali, and Maidenform brands.

HanesBrands celebrates the 15th anniversary of its Hanes for Good program, which has donated over 6 million essential apparel items to support unhoused communities across all 50 states, Washington D.C., Puerto Rico, and Guam since 2009. The program, which began by addressing the critical need for socks in homeless shelters, has expanded to include donations of t-shirts, underwear, sweats, and period underwear.

In recent initiatives, the program delivered 20,000 apparel pieces to areas impacted by 2024 Hurricanes Helene and Milton, and donated 9,000 pairs of women's period underwear across 24 partner locations. The program now collaborates with 485 partner organizations and is part of HanesBrands' broader commitment to positively impact 10 million people by 2030.

HanesBrands celebrates the 15th anniversary of its Hanes for Good program, which has donated over 6 million essential apparel items to support unhoused communities across all 50 states, Washington D.C., Puerto Rico, and Guam since 2009. The initiative began by addressing the critical need for socks in homeless shelters and expanded to include t-shirts, underwear, and period underwear.

The program recently provided 20,000 pieces of apparel to areas impacted by 2024 Hurricanes Helene and Milton, and donated 9,000 pairs of women's period underwear across 24 partner locations. In 2021, Hanes contributed to a Guinness World Record with 21,500 socks forming the world's longest sock line. Working with 485 partner organizations, this initiative is part of HanesBrands' broader goal to positively impact 10 million people by 2030.

Bonds, an Australian brand owned by HanesBrands (HBI), has partnered with Melbourne-based label Bugskin to transform their 'As Worn By Us' campaign billboards into edition tote bags. The initiative, launched following their April 2024 national campaign featuring over 100 portraits of Australians wearing Bonds products, demonstrates the company's commitment to sustainability and waste reduction. Bugskin takes approximately four weeks to create 100 bags from the recycled billboards, using silver hardware, seatbelt straps, and PVC in the manufacturing process.

HanesBrands' Australian brand Sheridan has partnered with BlockTexx to launch Australia's first homewares recycling program. The initiative allows consumers to return pre-loved quilt covers, sheets, and towels of any brand to Sheridan stores. BlockTexx's S.O.F.T. technology processes these items at their Loganholme facility, converting textile waste into high-grade raw materials for various industries. This program addresses a significant environmental challenge, as the average household has over 30 pounds of worn linen, and global textile waste could exceed 150 million tons by 2050.

HanesBrands responds to Hurricane Helene's devastation in western North Carolina through immediate relief efforts. The company has partnered with Delivering Good and the United Way to provide essential apparel, fleece products, and supplies to affected communities. Led by Global Sustainability Officer Teddy Mendoza, HanesBrands associates are actively collecting and distributing necessities including bottled water, food, and baby supplies. The company continues supporting victims of both Hurricanes Helene and Milton, working alongside organizations like United Cajun Navy, World Vision, Caring For Others, and 4Good Community to deliver aid to communities where flooding and mudslides have destroyed homes and businesses.

HanesBrands reported strong Q3 2024 results with net sales of $937 million, consistent with prior year on organic constant currency basis. The company achieved significant margin improvements with GAAP and Adjusted gross margins increasing by 530 and 525 basis points to 41.7% and 41.8%, respectively. Operating margins also improved, with GAAP and Adjusted EPS increasing 550% and 850% compared to prior year. The company generated $92 million in operating cash flow and reduced leverage to 4.3 times net debt-to-adjusted EBITDA. Following the sale of the global Champion business, HanesBrands is on track to pay down approximately $1 billion of debt in H2 2024, with $870 million already paid down by October.