HanesBrands Reports Fourth-Quarter 2012 Financial Results and Provides Fiscal 2013 Guidance
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- Strong Sales Performance to Retailers. Retail sales for Hanes, including T-shirts, fleece and graphic apparel, and for Champion both increased by double digits for the year.
- Branded Printwear Impact. As expected, branded printwear profitability was adversely affected by cotton inflation in the first half of the year, and net sales for the year were affected by a strategic de-emphasis of commodity products in favor of Hanes and Champion branded products. Branded printwear sales declined by approximately $50 million for the year as a result of the de-emphasis.
International Segment. International segment results in 2012 were affected by performance issues and currency exchange rates. International segment net sales declined 1 percent for the year and operating profit declined 14 percent compared with a year ago. On a constant currency basis, net sales increased 3 percent and operating profit decreased 9 percent.
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