×
194
Fashion Jobs
THINK FIRST DIGITAL
Hiring For Event Production Manager - Mumbai
Permanent · Mumbai
LUPIN
Opportunity For Area Manager - Mass Marketing - Lupin Ltd
Permanent · Pune
SOBHA
Manager - Sales at Sobha Nesara, Kothrud - Pune
Permanent · Pune
MIDAS HYGIENE INDUSTRIES PRIVATE LIMITED
Area Sales Manager - Punjab
Permanent · Jalandhar
PETPOOJA
Area Sales Manager || Software Sales (Pos) || Petpooja
Permanent · Navi Mumbai
FLEETX
Assistant Area Sales Manager/ Area Sales Manager
Permanent · Haldia
FLEETX
Area Sales Manager
Permanent · Tirunelveli
MINIVEL SERVICES
Area Sales Manager - Insurance Company
Permanent · Bengaluru
POLYCAB
Area Sales Manager
Permanent · Chennai
ACME SERVICES PRIVATE LIMITED
Purchase Manager For a Leading Textile Brand
Permanent · Mumbai
SBFC FINANCE
Area Sales Manager And Sales Manager- Loan Against Property
Permanent · Ahmedabad
GRAND CHEMICAL WORKS
Area Sales Manager- Lucknow (gt Fmcg)
Permanent · Lucknow
GRAND CHEMICAL WORKS
Area Sales Manager - Jaipur (gt)
Permanent · Kota
PUMA
Manager- Supply Planning
Permanent · Bengaluru
PUMA
Senior Manager - Performance Marketing- Marketplac…
Permanent · Bengaluru
SURYA FOOD AGRO LTD
Production Manager
Permanent · Greater Noida
SHYAM STEEL INDUSTRIES
Require Area Sales Manager For Different Locations at Bihar
Permanent · Madhepura
PINKODE REALTY LLP
Hiring For Asm/Sales Managers
Permanent · Mumbai
FRQ BRO
Area Sales Manager - Oppo
Permanent · Pudukkottai
MTC BUSINESS
Production Manager | Khopoli
Permanent · Khopoli
UGRAYA FOODS
Production Manager || Agartala (Tripura)
Permanent · Agartala
RELIANCE RETAIL
Area Sales Manager - Reliance Digital (Multiple Locations)
Permanent · Thiruvananthapuram
By
Reuters
Published
May 30, 2012
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Hanesbrands to exit unbranded printing, Outer Banks businesses

By
Reuters
Published
May 30, 2012

Underwear maker Hanesbrands Inc said it would cut production of basic apparel used in screen printing and exit its private label business and the Outer Banks sportswear brand as it seeks to prop up falling margins.


Hanesbrands's Playtex / Photo: Playtex


As part of the restructuring, Hanesbrands said it has agreed to sell its European imagewear division to an affiliate of the Netherlands-based Smartwares B.V. for 15 million euros ($18.80 million).

The imagewear segment, which sells basic apparel such as T-shirts to wholesalers in the screen-print market, accounts for 8 percent of the company's sales.

Hanesbrands, owner of the Hanes, Champion and Wonderbra brands, said the restructuring would reduce expected sales by about $60 million, mostly in the second half.

The company, which expects to incur non-cash pretax charges of $85 million to $95 million in the second quarter, said the changes would have an insignificant impact on operating profit, and reiterated its previous 2012 earnings forecast of $2.50 to $2.60 per share.

Hanesbrands reported a quarterly loss for the first time in two years in April, as rising cotton costs and increased competition ate into its margins.

The company's gross margins have slipped by more than 9 percentage points over the last two quarters, according to Thomson Reuters StarMine data.

Hanesbrands will also change the name of its imagewear operations to branded printwear, mainly to Hanes and Champion branded products in the United States to improve operating margins.

Shares of the company closed at $27.89 on Tuesday on the New York Stock Exchange.

© Thomson Reuters 2022 All rights reserved.