HanesBrands Reports First-quarter 2013 Financial Results
Significant margin improvement as a result of the company's Innovate-to-Elevate initiatives and lower cotton costs.
Facebook
Facebook
Twitter
Twitter
LinkedIn
LinkedIn
Email
Email
0 Comments
Comments
HanesBrands, Winston-Salem, N.C., reported first-quarter 2013 net sales, operating profit and diluted earnings per share consistent with the high end of estimated preliminary results announced April 4.
For the quarter ended March 30, 2013, net sales declined 3 percent to $945 million, operating profit increased substantially to $85 million, and EPS improved to $0.51 from a $0.25 loss a year ago. While net sales for the first quarter were hampered by a sluggish retail environment, the company's operating profit margin expanded 790 basis points over the year-ago quarter, benefitting from an improved cotton-cost and product-pricing environment and the company's Innovate-to-Elevate margin-enhancement initiatives.
0 Comments
View Comments
- Companies:
- Hanes Printables
- Outer Banks
Related Content
Comments