HanesBrands’ reports sales and profitability up in fiscal fourth quarter and full-year 2021 financial report.
Releasing financial results for its fourth quarter and full-year of 2021, HanesBrands Inc. reported increased sales and better-than-expected profitability. Winston-Salem, North Carolina-based HanesBrands, which participates in the promotional products industry as suppliers Hanes/Champion/ComfortWash (PPAI 191138, S10) and Alternative Apparel (PPAI 217134, S5), attributes the increases to continued growth in consumer demand and market share gains in its innerwear and activewear businesses.
“We are rapidly creating a new HanesBrands, focused on growth and serving our consumers and customers like never before,” says Steve Bratspies, CEO. “We significantly outperformed our expectations in 2021, driving increased financial projections in our three-year Full Potential growth plan. As we enter 2022, our performance, operational execution and financial foundation are far stronger than they were before the pandemic. We are implementing a three-year $600 million stock repurchase program, based on our confidence in future growth.
“Most importantly, I want to thank our outstanding global associates as they continue to meet every challenge to serve our consumers.”
HanesBrands reports that it exited 2021 with a stronger business and financial foundation, as well as a more attractive long-term growth profile, relative to its pre-pandemic position. Growth was above pre-pandemic levels, with full-year 2021 net sales 13% above 2019, adjusted operating profit 14% higher than 2019 and adjusted earnings per share 26% above 2019.
It also noted that consumer demand for company’s brands remains strong and continues to exceed supply due to ongoing disruptions in the global transportation environment.
Due to the impact of the pandemic on prior year results, HanesBrands’ release included certain comparisons to the comparable 2019 periods. Among them was its global Champion brand sales, which increased 25% and 20% compared to fourth-quarter and full-year 2019, respectively. The company reports that the continued growth above pre-pandemic levels is driven by strong consumer demand across channels in the U.S., continued growth in Europe, the Americas and Australia as well as the ramp-up of partners in China.
