Hanesbrands (HBI) Sees Q1 EPS Above Views; Reaffirms FY13 Outlook

April 4, 2013 4:25 PM EDT
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Hanesbrands (NYSE: HBI) expects to report first-quarter net sales of approximately $945 million; operating profit of $82 million to $85 million; and EPS of $0.48 to $0.51. Hanes will release final first-quarter financial results at the close of trading on the New York Stock Exchange Tuesday, April 23, 2013.

*** The Street sees Q1 sales of $974.2 million and EPS of $0.34.

Net sales for the first quarter were hampered by a sluggish retail environment as a result of delayed income tax returns and inclement weather compared with an early spring a year ago. However, the quarter’s operating profit margin will expand significantly, benefitting from the company’s Innovate-to-Elevate margin-enhancement initiatives built on strong brands, a low-cost supply chain, and innovation platforms.

For the full year, Hanes reaffirmed all of its 2013 guidance issued Feb. 5, 2013, including expectations for net sales of approximately $4.6 billion; operating profit of $500 million to $550 million; EPS of $3.25 to $3.40; and free cash flow of approximately $350 million to $450 million.

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