Hanesbrands exceeds expectations in second quarter
In the past quarter, which ended June 28, group revenue from continuing operations amounted to 1.29 billion dollars. This exceeded the prior-year figure by 2 percent.
Thanks to a higher gross margin and extensive cost reductions, the company achieved an operating profit of 154.7 million dollars. In the prior-year quarter, the group had incurred an operating loss of 63.2 million dollars. Adjusted for special items, operating profit rose by 22 percent to 153.5 million dollars. Group increases annual forecasts
The reported net profit was 81.6 million dollars. A loss of 298.4 million dollars had been recorded in the same period of the previous year. Adjusted for special items, net profit from continuing operations increased by 58 percent to 84.3 million dollars.
In view of the strong quarterly figures, which were significantly above recent forecasts, management raised its annual targets. The forecast for annual revenue, which had previously been between 3.47 and 3.52 billion dollars, was raised to 3.53 billion dollars. The target for operating profit from continuing operations is now 471 million dollars. Previously, between 425 and 440 million dollars had been expected. This article was translated to English using an AI tool.
FashionUnited uses AI language tools to speed up translating (news) articles and proofread the translations to improve the end result. This saves our human journalists time they can spend doing research and writing original articles. Articles translated with the help of AI are checked and edited by a human desk editor prior to going online. If you have questions or comments about this process email us at info@fashionunited.com
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