US clothing firm HanesBrands sales rise 13% in April-July FY21


HanesBrands, a US-based global marketer of branded everyday basic apparel, has reported 13 per cent sales growth to $1.7 billion in second quarter (Q2) of FY21 ended on July 3, 2021, compared to the sales of $1.5 billion in same period of previous fiscal. However, net income for the quarter slipped to $128.6 million (Q2 FY20: $161.2 million).

 

“Our iconic brands continue to resonate with consumers around the world, and I’m very encouraged by the progress on our full potential growth plan,” Steve Bratspies, chief executive officer at HanesBrands, said in a press release.

 

Gross profit for Q2 FY21 totalled to $681.6 million ($513.8 million), while operating profit rose to $217.4 million ($202.1 million). The company’s income from operations surged to $147.8 million ($136.5 million).

 

Segmentally, sales of innerwear dropped 29 per cent to $780.6 million ($1.0 billion) due to the overlap of last year’s $614 million of PPE sales. However, activewear sales advanced 140.0 per cent to $404.2 million ($168.4 million). Furthermore, HanesBrands’ international sales jumped 90.6 per cent to $478.9 million ($251.3 million) with strong growth in Australia, Americas, Europe and Asia Pacific driven by strong consumer demand and the overlap of last year’s Covid-related shutdowns.

 

For the complete fiscal 2021, the company has raised its forecast and now expects net sales from continuing operations of approximately $6.75 billion to $6.85 billion, which is $550 million above its prior range of $6.2 billion to $6.3 billion.

Fibre2Fashion News Desk (JL)

HanesBrands, a US-based global marketer of branded everyday basic apparel, has reported 13 per cent sales growth to $1.7 billion in second quarter (Q2) of FY21 ended on July 3, 2021, compared to the sales of $1.5 billion in same period of previous fiscal. However, net income for the quarter slipped to $128.6 million (Q2 FY20: $161.2 million).





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