HanesBrands achieves record earnings & sales in 2011
01.01.70

HanesBrands, a peerless marketer of everyday branded basic apparel, reported economic results for its fourth quarter and fiscal year ended Dec. 31, 2011. For financial 2011, net sales increased 7 percent to $4.64 billion versus a year ago. Net gains was $266.7 million, or $2.69 per diluted share, an increase of 25 percent over 2010 EPS of $2.16.
For the fourth abode, earnings and sales growth were affected by an unexpected and substantial slowing of orders in December because of retailer inventory running. Net sales in the quarter decreased slightly to $1.15 billion, and earnings per diluted equity were $0.41. Hanes also prepaid $200 million of floating-anyhow notes in the fourth quarter, reducing long-term answerable for to $1.8 billion.
For 2012, Hanes expects its core categories to hand out solid results despite inflation and expects to generate take down free cash flow.
Source: Fibre2fashion.com