HanesBrands Reports Record 2015 Net Sales Despite 4th Quarter Decline
In its fourth-quarter and full-year 2015 financial results, HanesBrands has reported a third consecutive year of record net sales and adjusted operating profits. The company’s net sales increased eight percent to $5.73 billion for the year ending January 2, 2016, while 2015 core sales in constant currency were essentially flat compared to the prior year. Fourth-quarter net sales decreased seven percent, while core sales in constant currency decreased five percent. HanesBrands participates in the promotional products industry as apparel supplier Hanes/Champion (UPIC: HBIINC).
“We delivered our third consecutive record year in 2015, although we are disappointed with our fourth-quarter performance,” says Hanes Chairman and Chief Executive Officer Richard A. Noll. “For 2016, I feel confident in our growth expectations and outlook for a fourth consecutive year with a double-digit increase in adjusted EPS.”
The company’s expectations for 2016 net sales of $5.8 billion to $5.9 billion represent growth of approximately one to three percent. This reflects additional incremental sales from completed acquisitions, the nonrecurrence of certain negative impacts in 2015, and contributions from Innovate-to-Elevate platforms and an increased focus on driving core volume that more than offsets the negative impact from currency valuations. HanesBrands’ expected adjusted operating profit of $920 million to $950 million represents growth of seven to 10 percent. Profit is expected to benefit from continued synergies from acquisitions, supply chain internalization and SG&A leverage.
Click here more on the company’s 2015 results and expectations for 2016.