Hanesbrands Inc. topped off a difficult year with a strong fourth quarter led by its Champion brand, which has posted double-digit sales growth for three consecutive years.
In the fourth quarter ended Dec. 29, income jumped 109.3 percent to $49.8 million, or 52 cents a share, from $23.8 million, or 25 cents, in the same year-ago period. Sales rose 2.4 percent to $1.16 billion from $1.13 billion.
For the year, income fell 39.4 percent to $126.1 million, or $1.30 a diluted share, from $208 million, or $2.16, a year earlier. Sales gained 1.6 percent to $4.47 billion from $4.40 billion.
The company said its Hanes, Champion and Bali brand sales rose for the fourth quarter and full year.
"We capped a successful first year, in which we exceeded our financial goals, with solid performance in the fourth quarter in a tough consumer climate," said Richard A. Noll, chief executive officer.
Noll pointed out that one of the company's key strategies is to invest in its largest and strongest brands, and that the strategy seems to be delivering results.
“I’ve struggled my whole life to find a bathing suit that fits me that doesn’t look like a maternity bra. I’m proud of the line because it’s an accurate representation of me rather than me putting on someone else’s clothes,” says @atlantabean of her swimwear collaboration with @piaarrobio, LPA X ATL. The two decided on a swimwear collab and increased the industry standard size for the pieces. Read more about the line — and our interview with de Cadenet Taylor and Arrobio — on WWD.com #wwdfashion
Exclusive: Cate Blanchett has been named the first global beauty ambassador for @armanibeauty. Blanchett has been the face of the brand’s Sì fragrance franchise since 2013, and is now representing all of the label’s beauty categories including makeup and skin care. #wwdbeauty (📷: @zefashioninsider)
“From concept to creation, my goal was to create beautiful pieces, with a variety of sizes, all at affordable prices,” said @joansmalls of the swimwear and intimate apparel she designed for @smartandsexysocial. The collection includes neon laced bras, sheer bodysuits and swimwear separates. The intimates collection will launch in July, while the swimwear collection will be available for purchase on Tuesday at select @walmart stores, walmart.com and smartandsexy.com. #wwdfashion