×
36 694
Fashion Jobs
BANANA REPUBLIC
General Manager - Willowbend Mall
Permanent · Plano
TOO FACED
Account Executive - Manhattan, New York
Permanent ·
GIII APPAREL GROUP
Accounts Payable Coordinator
Permanent · New York
SALLY BEAUTY CORPORATE
Outside Sales Representative - Professional Beauty
Permanent · Mesa
SALLY BEAUTY CORPORATE
Dbe Barber Account Executive
Permanent · New York
SALLY BEAUTY CORPORATE
Dbe Barber Account Executive
Permanent · Nashville
SALLY BEAUTY CORPORATE
Outside Sales Representative - Professional Beauty
Permanent · Eugene
SALLY BEAUTY CORPORATE
District Manager
Permanent · Winston-Salem
SALLY BEAUTY CORPORATE
Outside Sales Representative - Professional Beauty
Permanent · Reno
CENTRIC BRANDS
Associate, Account Executive - Los Angeles (Hudson)
Permanent · Los Angeles
CENTRIC BRANDS
Area Manager - Bcbg - Texas
Permanent · New York
CENTRIC BRANDS
Senior Analyst - m&a - Business Development
Permanent · New York
CENTRIC BRANDS
Sales Manager, Bcbg - Division - Fashion Valley 624
Permanent · San Diego
ULTA BEAUTY
Prestige Sales Manager-Alabaster Promenade
Permanent · Alabaster
ULTA BEAUTY
Prestige Sales Manager-Shoppes of Mentor
Permanent · Mentor
ULTA BEAUTY
Prestige Sales Manager-Marshall's Plaza
Permanent · DeWitt
ULTA BEAUTY
General Manager-Lincoln Square
Permanent · Arlington
ULTA BEAUTY
Prestige Sales Manager-Water Tower Place
Permanent · West Des Moines
ULTA BEAUTY
Prestige Sales Manager-Ocean County Mall
Permanent · Toms River
ULTA BEAUTY
Retail Sales Manager-Water Tower Place
Permanent · West Des Moines
ULTA BEAUTY
Retail Operations Manager-Ocean County Mall
Permanent · Toms River
ULTA BEAUTY
Retail Operations Manager-Firewheel Town Center
Permanent · Garland

HanesBrands sees skyrocketing sales at Champion, profits sapped by Sears bankruptcy

Published
today Nov 1, 2018
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Despite a moderate rise in revenues driven by particularly strong sales at its Champion brand, North Carolina-based apparel group HanesBrands reported a 15.7% decline in net income in the third quarter of 2018, negatively impacted by a $14 million bad-debt reserve charge related to the recently declared bankruptcy of Sears Holdings Corporation.


Sales at HanesBrands' Champion brand increased 30% in Q3 - Instagram: @champion

 
The company’s net sales for the third quarter ended September 29, 2018 increased 3% (1% in constant currencies) to $1.85 billion, with growth in HanesBrands’ activewear and international segments (7% and 11%, respectively) partially offset by a 7% decrease in the innerwear segment.

Activewear brand Champion proved to be a real bright spot with sales rising 30% in constant currencies, thanks to strong double-digit growth in the US, Asia and Europe. Excluding the mass channel, the brand’s revenues increased 40%.

In terms of distribution channels, HanesBrands saw solid growth of 15% in its consumer-directed channels, both online and physical, which now account for 21% of total company sales.
 
Operating profit, however, was negatively impacted by the charge related to the Sears bankruptcy and slipped 1% to $257 million, while HanesBrands’ net income totaled $171.4 million, down from $203.4 million in the prior-year period.
 
“Our overall results were good and in line with our guidance on a pro forma basis. We made progress on our long-term goals of continued organic sales growth, higher profit margins, and reduced debt leverage,” said HanesBrands CEO Gerald W. Evans Jr. “We are diligently focused on delivering the fourth quarter, and we are off to a strong start in October with solid order bookings across our segments.”
 
In the fourth quarter, the company now expects to see net sales of between $1.70 billion and $1.74 billion, operating profit of between $236 million and $251 million, and earnings per share (EPS) in the range of $0.42 to $0.46.
 
This revised guidance takes the Sears bankruptcy into account, as the company previously expected to make around $15 million in sales and $5 million in operating profit through the department store chain.
 
Full-year 2018 net sales are now expected to be between $6.735 billion and $6.775 billion, while operating profit is predicted to be in the range of $860 million to $875 million. EPS  guidance is in the range of $1.50 to $1.54.

Copyright © 2019 FashionNetwork.com All rights reserved.