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HANESBRANDS INC.

(HBI)
  Report
Delayed Nyse  -  04:00 2022-10-03 pm EDT
7.200 USD   +3.45%
09/30Hanesbrands Inc. : Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Financial Statements and Exhibits (form 8-K)
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09/08Insider Buy: Hanesbrands
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09/01Champion Reminds the World That Hoodies Are Still the Real Deal, 80+ Years After Inventing Them for the Sidelines
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Hanesbrands Foresees Declining Sales on FX Impact -- Currency Comment

08/11/2022 | 10:24am EDT

By Paulo Trevisani


Hanesbrands Inc. said Thursday it expects sales to fall this year, with a negative impact from foreign exchange rates.

The Winston-Salem, N.C. apparel company projected full-year sales from continuing operations of $6.45 billion to $6.55 billion, including an FX headwind of around $165 million.

"At the midpoint, this represents an approximate 2% decline as compared to prior year on a constant currency basis and a 4% decline on a reported basis," the company said.

The company's previous guidance estimated an FX headwind of $125 million and sales of $7 billion to $7.15 billion.

Hanesbrands said second-quarter sales fell 11% on a constant currency basis when adjusted for a $38 million negative impact from foreign exchange rates.

International sales on a constant currency basis decreased 3% from a year earlier, with low-single digit declines in Europe and Australia more than offsetting growth in the Americas, the company said.

The DXY dollar index is up 9% this year. The U.S. currency is widely expected to remain strong as the Federal Reserve raises rates faster than its counterparts in the developed world.


Write to Paulo Trevisani at paulo.trevisani@wsj.com


(END) Dow Jones Newswires

08-11-22 1023ET

Stocks mentioned in the article
ChangeLast1st jan.
DOW JONES FXCM DOLLAR INDEX 0.00% 13349.3 Real-time Quote.10.24%
EURO / US DOLLAR (EUR/USD) 0.39% 0.9832 Delayed Quote.-13.87%
HANESBRANDS INC. 3.45% 7.2 Delayed Quote.-58.37%
All news about HANESBRANDS INC.
09/30Hanesbrands Inc. : Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year, Financ..
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09/08Insider Buy: Hanesbrands
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09/01Champion Reminds the World That Hoodies Are Still the Real Deal, 80+ Years After Invent..
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08/26HanesBrands, University of Michigan Renew Apparel Deal
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08/23HANESBRANDS INC. : Ex-dividend day for
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Analyst Recommendations on HANESBRANDS INC.
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Financials (USD)
Sales 2022 6 487 M - -
Net income 2022 372 M - -
Net Debt 2022 3 255 M - -
P/E ratio 2022 6,73x
Yield 2022 8,44%
Capitalization 2 512 M 2 512 M -
EV / Sales 2022 0,89x
EV / Sales 2023 0,87x
Nbr of Employees 58 000
Free-Float 99,1%
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Technical analysis trends HANESBRANDS INC.
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 7,20 $
Average target price 12,00 $
Spread / Average Target 66,7%
EPS Revisions
Managers and Directors
Stephen B. Bratspies Chief Executive Officer & Director
Michael P. Dastugue Chief Financial Officer
Ronald L. Nelson Lead Independent Director
Michael E. Faircloth Group President-Global Operations
Tracy M. Preston Secretary & Chief Compliance Officer
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