Drop in revenue at Hanesbrands in Q2 - sportstextiles: Lea SportsTextiles

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Drop in revenue at Hanesbrands in Q2

04/08/2016
Apparel group Hanesbrands reported second quarter sales of $1.47 billion, a 3% drop on the same period of 2015. Operating profit was up 59% to $221 million.

The company said the decline in revenue was due to the strong performance in the second quarter of last year, which took advantage of expanded shelf space for product launches.

“We are confident in our plans for the year, with our sales, operating profit and EPS performance all tracking right in line with our expectations and consistent with our full-year guidance,” said chief operating officer Gerald Evans Jr, who is to take over as Hanesbrand CEO on October 1.


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