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Article Date: February 2022
Word Count: 739

Hanesbrands Raises Full Potential Targets

Net income in the final quarter was $60,033,000 against a loss of $332,164,000 last year that included a huge inventory writedown, as revenues grew by 4% to $1,752,349,000 from $1,689,145,000. Adjusted for PPE and the 53rd week of sales in 2020, constant currency sales were up 9%. This year the bottom line was impacted by a number of restructuring charges, including a charge for early extinguishment of debt, and a writedown of its U.S. Sheer Hosiery business, which HBI has decided to sell. Excluding all those charges and the extraordinary items the year before, adjusted net income from continuing operations ... Log in to view full article.


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