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Article Date: July 2020
Word Count: 450

Mask Sales Fuel Hanesbrands’ Q2


HBI rebounded from its Q1 loss with an 8% improvement in net income to $161,181,000 in the second quarter from $149,555,000 last year on 1% lower revenues of $1,738,779,000 against $1,760,927,000 driven by $752.2 million of personal protective equipment sales. The PPE sales were mostly to governments and large organizations, including a big contract with the U.S. government, but it has opened up mask sales to consumers under its Hanes and Champion brands, and consumer sales are expected to make up most of future PPE revenues. Online sales were also a bright spot, increasing 70% for the quarter.

 

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