The discontinued portion of the imagewear operations registered a loss of $66.1 million for the quarter, dragging down overall earnings to $1.2 million, or 1 cent a diluted share. That compared with year-ago profits of $86.8 million, or 87 cents.
Sales for the three months ended June 30 rose 1.1 percent to $1.18 billion from $1.17 billion. Innerwear sales rose 2.2 percent to $664.9 million and outerwear sales increased 1.2 percent to $295.4 million. International sales slipped 1.8 percent to $125.7 million and direct-to-consumer revenues fell 3 percent to $94.6 million.
“Our business had a solid quarter, and we are performing slightly ahead of our plans for the year, especially in the innerwear segment,” said Richard Noll, chairman and chief executive officer. “While we still have a long way to go, we are well positioned for the second half of the year.”
For the full year, Hanesbrands said it continues to expect earnings of $2.50 to $2.60 a diluted share. | “Product pricing, shelf space, and promotion plans for the remainder of 2012 have been finalized with major retail accounts,” the company said. “Virtually all commodity costs have been fixed for the remainder of the year, with the company incurring significantly lower cotton and other inflation impacts in the second half of the year.”
@juicebeauty, where @gwynethpaltrow holds the title of creative director of makeup, has become one of the foremost labels in the organic beauty category –– with sales on track to hit $100 million this year. What’s behind the rapid growth the brand is experiencing right now? It all started in 2005 when the wellness movement was just getting started. Read more on WWD.com. #wwdbeauty
Stay up to do date with breaking news and trending stories with WWD’s “The Essentialist.” Our newsletter delivers the top news in fashion right to your inbox. Want more info? Link in bio. #wwdfashion (📷: @kukukuba)
"I want to tell a story that inspires people to feel good about themselves, but also I'm making a commentary about the lack of female stories and female directors and saying this should change," said @imheathergraham on her latest project "Half Magic." The comedy feature, which the actress wrote and directed, is based on her own struggles as a woman in show business. Read @andrewnodell's full interview with Graham on WWD.com. #wwdeye (📷: @jgreenery)
@meltcosmetics cofounders @lora_arellano and @danabomar built their brand on a single idea: a true matte lipstick. To set the brand apart, they said they always put their customers first –– including a personalized note in each package. #wwdsummits #wwdbeauty
@moncler unveiled its latest project, #MonclerGenius, yesterday at Milan Fashion Week. The Italian outwear maker gave show-goers a preview of the monthly collections – which were created by eight designers and creative talents including Pierpaolo Piccioli, Simone Rocha, Craig Green and more – that will start rolling out in the summer.