HanesBrands has swung to a first quarter profit as margins improved on improved cotton cost and product pricing environment.
WINSTON-SALEM, N.C.—Hanesbrands is raising its full-year guidance after reporting a strong first quarter. Diluted earnings per share for Q1 were up 32 percent to 49 cents. Net sales rose 12 percent to $1.04 billion. Hanesbrands credited its Gear For Sports business (acquired last November) and growth in international business and organic outerwear. The company’s FY [...]
WINSTON-SALEM, N.C.—Hanesbrands, the cotton underwear and basics giant, is seeking cotton alternatives as prices rise, according to a report in the Wall Street Journal. That search has led the company to flax and a 12-year-old Vancouver-based company called Naturally Advanced Technologies (NAT). Hanesbrands signed a 10-year deal with NAT to commercialize the company’s proprietary Crailar [...]