Welcome to our dedicated page for Hanesbrands news (Ticker: HBI), a resource for investors and traders seeking the latest updates and insights on Hanesbrands stock.
HanesBrands Inc. (formerly NYSE: HBI) has generated a steady flow of news as a global leader in everyday iconic apparel and innerwear. Company press releases describe HanesBrands as the No. 1 seller of innerwear and a socially responsible manufacturer of basics, with a portfolio that includes Hanes, Bonds, Maidenform, and Bali. For readers following the historical HBI story, the news record captures both operational developments and the corporate events that culminated in its acquisition by Gildan Activewear Inc.
Financial news items cover quarterly results, where HanesBrands reported net sales, gross margin, operating profit, and earnings per share, often alongside non-GAAP measures such as adjusted operating profit, adjusted EPS, EBITDA, adjusted EBITDA, and leverage ratio. These releases discuss factors like cost savings initiatives, supply chain optimization, assortment management, and foreign exchange impacts on U.S. and international segments. They also outline guidance ranges for net sales, operating profit, EPS, and cash flow, providing insight into how management framed its outlook during its final periods as a standalone public company.
Beyond earnings, HanesBrands’ news includes product and brand announcements. Examples include the launch of Hanes Moves, a cross-category athleisure collection under the Hanes brand, and the U.S. debut of the Australian Bonds underwear brand. These stories emphasize comfort, performance features, and the extension of established brands into new categories and markets. Other releases describe strategic initiatives such as refinancing 2026 debt maturities and a ten-year alliance with Infosys focused on AI-driven efficiency and modernization of HanesBrands’ digital and data landscape.
A major theme in later news is the transaction with Gildan Activewear Inc. Press releases and related communications announce the signing of the merger agreement, provide details on shareholder meetings and regulatory milestones, and confirm the closing of the acquisition. For users researching HBI news, this page serves as an archive of how HanesBrands communicated its financial performance, strategic initiatives, brand developments, and the steps leading to its integration into Gildan.
Wipro has been chosen by Hanesbrands to accelerate its digital transformation, emphasizing AI, cloud, data, and analytics. This partnership extends their existing relationship and involves Wipro defining Hanesbrands' cloud roadmap and integrating business functions to optimize operations. The collaboration aims to improve product lifecycle processes, ensuring faster time-to-market and enhanced profitability. Wipro's domain expertise, particularly in the apparel industry, and its experience in complex tech transformations are expected to drive innovation and long-term growth for Hanesbrands.
HanesBrands (NYSE: HBI) announced an agreement to sell its global Champion business to Authentic Brands Group for $1.2 billion, potentially reaching $1.5 billion with contingent considerations. The sale, approved by the board, aligns with HanesBrands' strategy to focus on its core innerwear business and accelerate debt reduction. The transaction, expected to close in the second half of 2024, will net approximately $900 million for HanesBrands after costs. CEO Steve Bratspies emphasized the transaction's role in simplifying operations, reducing debt, and enhancing financial performance. Post-sale, HanesBrands will offer transition services for Champion in select regions.
HanesBrands (HBI) has set an ambitious goal to positively impact the lives of 10 million people by 2030 through its sustainability initiatives. As of 2023, they've reached 3.4 million people via programs like 'Green for Good,' which funds community projects with savings from recycling. Their sustainability efforts include providing medical services, educational opportunities, and supporting communities in need.
HanesBrands is also committed to environmental goals, achieving a 50% reduction in greenhouse gas emissions since 2019 and aiming for zero waste by 2025. Projects in the Dominican Republic, Thailand, and Honduras focus on renewable energy, with significant investments in biomass and solar power. HanesBrands' sustainability efforts have saved $23 million since 2020 and have been recognized with multiple awards.
In addition to environmental initiatives, the company uses sustainably grown cotton and is reducing single-use plastics. Their global associate campaign, 'I'M IN,' encourages employees to adopt sustainable practices. The company collaborates with partners globally to extend its impact, showcasing a comprehensive approach to sustainability.
HanesBrands (NYSE: HBI) announced progress toward its 2025 and 2030 sustainability goals. Key achievements include a 53% reduction in absolute Scope 1 and 2 greenhouse gas emissions since 2019 and approval of near-term science-based targets from the Science-Based Targets initiative. The company also reported a 41% reduction in Scope 1 and 2 intensity, substantial cuts in water use and packaging weight, and significant steps towards zero waste by 2025 and 100% renewable electricity by 2030. HanesBrands' sustainability efforts have saved $23 million since 2020, with over $10 million saved in 2023 alone. Additionally, the company impacted 3.4 million lives since 2021 through community programs and sustainability initiatives. Products have gained recognition through Amazon's Climate Pledge Friendly program, with several receiving GreenCircle certification for reduced emissions and renewable energy use.
HanesBrands (NYSE:HBI) has announced a five-year extension of its partnership with Texas Christian University (TCU). This renewal grants HanesBrands the exclusive rights to manufacture and sell Horned Frog fanwear in the mass retail channel.
TCU is among over two dozen elite schools with exclusive mass retail partnerships with HanesBrands, including Florida State, Penn State, the University of Michigan, Clemson University, and Auburn University. Additionally, more than a dozen top universities have primary apparel partnerships with HanesBrands.
John Fryer, President of Licensed Sports Apparel at HanesBrands, emphasized the company’s commitment to TCU fans, students, and alumni, highlighting the quality and innovation in their products. TCU's Deputy Athletics Director, Ryan Peck, expressed satisfaction with the partnership, citing positive feedback from the fan base.
HanesBrands, known for its global apparel and commitment to sustainability, includes brands such as Champion, Hanes, Alternative Apparel, and ComfortWash in its collegiate apparel program.
HanesBrands announced first-quarter 2024 results with net sales of $1.16 billion, meeting expectations. Gross margin increased 750 and 720 basis points for GAAP and adjusted, respectively. Operating profit was $52 million, adjusted operating profit exceeded expectations at $84 million. Inventory reduced by 28% year-over-year. Cash flow from operations was $26 million. Leverage reduced to 5.0 times net debt-to-adjusted EBITDA. Second-quarter 2024 guidance includes net sales of $1.335 billion to $1.375 billion. Full-year 2024 guidance reiterated with expected strong profit and EPS growth. Company plans to pay down over $300 million of debt in 2024.
HanesBrands (NYSE: HBI) announced details for its first-quarter 2024 earnings announcement and investor conference call set for May 9, 2024. The company will reveal financial results for the quarter ended March 30, 2023, before the conference call. Participants can join via telephone or webcast, with a Q&A session included. HanesBrands, known for popular brands like Hanes, Champion, Bonds, Maidenform, and Bali, aims for long-term growth and sustainability.
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