Hanesbrands: 17% increase in sales thanks to acquisitions
A third consecutive quarter with double-digit growth in net sales for Hanesbrands thanks to its acquisitions. The American group specialized in underwear and activewear (Hanes, Champion...) thus ended its third quarter on September 27 with a 17% (€1.4 billion) increase in revenue, an entirely logical sum given the acquisition of Maidenform less than a year ago, and DBApparel (Dim) two months ago.
If the new brands that were not present in the Hanesbrands scope in the previous financial year are not taken into account, the comparable increase is +1%.
Maidenform contributed $115 million in the overall revenue, while DBApparel contributed $81 million for the period of just one month, as of the acquisition on 29 August.
However, the third semester operational result dropped 13%, to $154 million, due to the earnings before taxes tied to the acquisitions. Not including this data, Hanesbrands posts a 23% increase in its "adjusted" operating profit.
The forecasts for the complete financial year remain unchanged, with an expected overall revenue of around $5.4 billion. This third quarter marked the end of Maidenform's integration period.
Copyright © 2022 FashionNetwork.com All rights reserved.