Hanesbrands Inc Stock Price, News & Analysis

NORTHAMPTON, MA / ACCESSWIRE / February 22, 2023 / HanesBrands partnered with the Super Soul Party initiative to support the homeless community during Super Bowl Sunday. The collaboration resulted in the creation of 'dignity bags' containing socks, sweatshirts, and essential items for 500 individuals attending various Super Soul events nationwide. Chris Fox, the chief sustainability officer of Hanes, emphasized the importance of connecting with communities and providing comfort during challenging times. This initiative aligns with HanesBrands' commitment to corporate social responsibility and community engagement.

Hanes, America's leading underwear brand, has launched the Hanes Originals collection as part of its new “Make Yourself Comfortable” campaign. This collection features modern prints and colors across various categories, emphasizing comfort without sacrificing style. It includes a wide range of products from innerwear to activewear, marking the largest cross-category launch in Hanes' 125-year history. The collection integrates innovative fabrics and designs aimed at younger consumers. Additionally, Hanes promotes sustainability, encouraging energy-saving washing practices.

HanesBrands has made significant strides in its sustainability efforts, achieving 100% renewable energy at its Dos Rios plant in the Dominican Republic under a Solar Power Purchase Agreement (SPPA). This agreement, the largest of its kind for the company, ensures the facility’s electrical needs are met for the next ten years. The plant, capable of producing 2 million pounds of fabric weekly, will help eliminate nearly 33,000 metric tons of carbon dioxide annually. Additionally, solar panel installations in Honduras are expected to provide 50% of energy for manufacturing. These projects underline HanesBrands' commitment to sustainable practices and financial prudence, with projections of the installations paying for themselves in just over three years.

HanesBrands Inc. (NYSE: HBI) announced the pricing of its $600 million offering of 9.000% senior unsecured notes due 2031. The notes, guaranteed by certain subsidiaries, are set to close on February 14, 2023. Proceeds will be used to redeem outstanding 4.625% and 3.5% Senior Notes due 2024, along with related fees. The offering adheres to Regulation S and Rule 144A of the Securities Act and is aimed at qualified institutional buyers and non-U.S. persons. Importantly, the notes are unregistered and subject to customary closing conditions.

HanesBrands Inc. (NYSE: HBI) has announced plans to offer $600 million in senior unsecured notes due 2031. This private offering, subject to market conditions, aims to redeem existing 4.625% and 3.5% Senior Notes due 2024. The notes will be guaranteed by certain domestic subsidiaries and offered only to qualified institutional buyers and non-U.S. persons. The offering is exempt from registration under the Securities Act. Funds will also be sourced from a new senior secured term loan B facility and company cash. Forward-looking statements indicate risks regarding their multi-year growth strategy and market competition.

HanesBrands Chief Sustainability Officer, Chris Fox, appeared on the WWD Voices Podcast to discuss the company's sustainability efforts, partnerships, and its strategic position in the apparel industry. During the podcast, Fox highlighted HanesBrands' commitment to sustainable practices and environmental responsibility. The conversation emphasizes the critical role of sustainability in the business model, showcasing how the company integrates eco-friendly initiatives into their operations. To listen to the full podcast, visit the provided link.

HanesBrands reported fourth-quarter net sales of $1.47 billion, exceeding guidance. Despite this, it recorded a GAAP EPS loss of $1.19 due to a non-cash reserve for deferred tax assets. The company has shifted its capital allocation strategy by eliminating dividends to focus on debt reduction. Full-year net sales declined 8% to $6.23 billion, influenced by foreign exchange impacts. For 2023, Hanes expects sales between $6.05 billion and $6.20 billion, and operating cash flow of $500 million. The company aims for long-term targets of $8 billion in net sales and a 14.4% operating margin by 2026.

HanesBrands (NYSE: HBI) has announced its fourth-quarter 2022 conference call scheduled for February 2, 2023, at 8:30 a.m. ET. The call will reveal financial results for the quarter ending December 31, 2022. Interested participants must register in advance to join the call by following a provided link. A webcast will also be accessible through the investor section of HanesBrands' corporate website. The event is anticipated to conclude by 9:30 a.m. ET. Replays will be available online post-event. HanesBrands is recognized globally for its quality apparel brands like Hanes and Champion, employing approximately 59,000 associates worldwide.

HanesBrands (HBI) has partnered with Delivering Good to provide ongoing support for communities affected by Hurricane Ian. Following the storm, HBI donated over 90,000 clothing items to aid those in need during recovery efforts. Since their collaboration began nearly 10 years ago, they have distributed more than $45 million worth of products to assist communities in crisis. In 2022, HBI also donated 1.2 million items to flood victims in Kentucky. The partnership highlights HBI's commitment to supporting communities in their recovery and providing comfort during difficult times.