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HanesBrands to Highlight Innovate-to-Elevate and Cash-Deployment Strategies at Investor Day Meeting
HanesBrands to Highlight Innovate-to-Elevate and Cash-Deployment Strategies at Investor Day Meeting
February 26, 2014 at 4:01 PM EST
Company Reaffirms all Full-Year 2014 Guidance Issued
Investor Day Meeting to be Webcast Live at
Hanes’ Innovate-to-Elevate strategy harnesses the company’s industry-leading brand power, innovation platforms, and low-cost supply chain to drive profitability improvement. Hanes has increased its adjusted operating profit margin by 400 basis points over the past five years using the Innovate-to-Elevate strategy to increase shelf space, gain market share, lower costs, internalize production of higher-volume programs, and introduce higher-margin products.
The company’s innovation platforms include Flexible Fit bras that utilize Smart Size technology, ComfortBlend fabric used in numerous Innerwear and Activewear categories, X-Temp evaporation-control fabric being rolled out in Innerwear, and Vapor quick-dry fabric used in Activewear products.
Hanes has also generated
Hanes has also reaffirmed all of its full-year 2014 guidance issued
“We had a record year in 2013, and our guidance calls for another record
year in 2014,” Hanes Chairman and Chief Executive Officer
Investor Day Webcast
The company’s investor day meeting, which will be held at the company’s
For those unable to attend the meeting or listen to the webcast, a document with speaker presentation slides and corresponding speaker remarks will be available in the investors section of the Hanes website. A link to an archived audio replay of the webcast will also be available.
Reconciliation to GAAP Measures
Adjusted EPS excluding actions and adjusted operating profit (and margin) excluding actions are not generally accepted accounting principle measures. Hanes has chosen to provide these non-GAAP measures to investors to enable additional analyses of past, present and future operating performance absent the effect of acquisition-related expenses and other actions and as a supplemental means of evaluating company operations. Non-GAAP measures should not be considered a substitute for financial information presented in accordance with GAAP and may be different from non-GAAP or other pro forma measures used by other companies.
For 2014 guidance, adjusted EPS is defined as diluted EPS excluding
actions and the tax effect on actions, and adjusted operating profit is
defined as operating profit excluding actions. Hanes’ current estimate
for pretax charges in 2014 for acquisition and other actions is
approximately
On a GAAP basis, full-year 2014 diluted EPS will vary depending on
actual performance, charges and tax rate. GAAP diluted EPS could be in
the range of
Cautionary Statement Concerning Forward-Looking Statements
This press release contains certain “forward-looking statements,” as
defined under U.S. federal securities laws, with respect to our
long-term goals and trends associated with our business, as well as
guidance as to future performance. In particular, among others,
statements following the heading “Reconciliation to GAAP Measures,” as
well as statements about the benefits anticipated from the Maidenform
acquisition, are forward-looking statements. These forward-looking
statements are based on our current intent, beliefs, plans and
expectations. Readers are cautioned not to place any undue reliance on
any forward-looking statements. Forward-looking statements necessarily
involve risks and uncertainties, many of which are outside of our
control, that could cause actual results to differ materially from such
statements and from our historical results and experience. These risks
and uncertainties include such things as: the impact of significant
fluctuations and volatility in various input costs, such as cotton and
oil-related materials, utilities, freight and wages; the failure of
businesses we acquire to perform to expectations; current economic
conditions, including consumer spending levels and the price elasticity
of our products; legal, regulatory, political and economic risks
associated with our operations in international markets, including the
risk of significant fluctuations in foreign exchange rates; the highly
competitive and evolving nature of the industry in which we compete;
unanticipated business disruptions or the loss of one or more suppliers
in our global supply chain; our ability to effectively manage our
inventory and reduce inventory reserves; and other risks identified from
time to time in our most recent
Source:
HanesBrands
News Media, contact:
Matt Hall, 336-519-3386
or
Analysts
and Investors, contact:
T.C. Robillard, 336-519-2115
Data Provided by Refinitiv. Minimum 15 minutes delayed.