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.
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Direct to Consumer Segment: Direct to Consumer sales decreased by 6 percent, while operating profit was slightly positive compared with a loss in the year-ago quarter.
2013 Guidance
For full-year 2013, Hanes expects net sales of approximately $4.6 billion; operating profit of $500 million to $550 million; and EPS of $3.25 to $3.40. The company expects a decline in branded printwear sales of $40 million to $50 million from rationalization that began in mid-2012; of the expected decline, $15 million occurred in the first quarter.
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- Companies:
- Hanes Printables
- Outer Banks
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