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|HanesBrands to Highlight Diversified Global Business Model and Path to Consistent Growth, Increased Free Cash Flow and Shareholder Value Creation at Investor Day Meeting|
In the four years since the company’s last investor day, the company has
transformed itself from a U.S.-centric business supported by a global
supply chain into a worldwide basic apparel leader with commercial
operations in the
At the investor day meeting at company headquarters beginning at
“We have expanded our brand portfolio, diversified our business
internationally and across channels, and increased the leverage of our
powerful global supply chain to deliver more consistent organic growth
and higher cash-flow generation,” said Hanes Chief Executive Officer
Immediate priorities for the company include continuing to drive double-digit global revenue growth for Champion and the online/consumer-direct channel; returning the U.S. Innerwear business to growth; capturing the remaining synergies and ending integration charges for prior acquisitions; and reducing the company’s net debt-to-EBITDA ratio.
“Over the next few years, we expect to see meaningful EPS growth from
our disciplined capital allocation strategy and modest operating margin
expansion,” said Hanes Chief Financial Officer
Hanes has reaffirmed its second-quarter 2018 and full-year 2018 guidance
The company continues to expect full-year 2018 net sales of
Second-quarter net sales are expected to be in the range of
See section below titled Note on Non-GAAP Terms and Definitions and Table 1 for reconciliation of non-GAAP guidance to GAAP guidance.
Jon Ram Joins HanesBrands to Lead Global Activewear Business
Ram joins Hanes from
Ram has more than 25 years of wholesale and retail experience in the
athleticwear, sports footwear and sports licensing industries. He will
report to Hanes CEO
“We are delighted to attract a top talent such as Jon with extensive
experience and success in business development, marketing, merchandising
and product management in the athleticwear and footwear industry,” Evans
said. “Our activewear businesses have significant momentum in the
“We will miss John and his strong leadership skills,” Evans said. “John had a very successful career at Hanes and was instrumental in building our global activewear growth platform. We all wish him and his family the best on his mission.”
Investor Day Webcast
Hanes will host an Investor Day informational meeting for registered
participants and stock analysts at its
A live Internet broadcast of the meeting, including audio and slides, is expected to end by noon and may be accessed at www.Hanes.com/investors.
The company will review its global business strategies, key initiatives, and long-term financial goals. Several members of management and international leaders of the company’s global innerwear and activewear businesses will speak.
An archived replay of the meeting webcast and copies of the presentation slides will be available in the investors section of the Hanes corporate website.
Note on Non-GAAP Terms and Definitions
To supplement financial guidance prepared in accordance with generally accepted accounting principles, the company provides financial guidance concerning certain non-GAAP financial measures, including adjusted EPS and adjusted operating profit.
Adjusted EPS is defined as diluted EPS from continuing operations excluding actions and the tax effect on actions. Adjusted operating profit is defined as operating profit excluding actions.
Charges for actions included in guidance primarily represent
acquisition-related and integration costs related to
Free cash flow is not a generally accepted accounting principle measure. Free cash flow is defined as net cash from operating activities less capital expenditures. Free cash flow may not be representative of the amount of residual cash flow that is available to the company for discretionary expenditures since it may not include deductions for mandatory debt-service requirements and other nondiscretionary expenditures. The company believes, however, that free cash flow is a useful measure of the cash-generating ability of the business relative to capital expenditures and financial performance.
Non-GAAP information 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.
Cautionary Statement Concerning Forward-Looking Statements
Statements in this press release that are not statements of historical
fact are forward-looking statements within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, including those regarding our long-term goals and trends
associated with our business, as well as guidance as to future
performance. Examples of such statements include the statements included
in this press release with respect to multiyear performance objectives.
These and other forward-looking statements are made only as of the date
of this press release and are based on our current intent, beliefs,
plans and. They involve expectations, risks and uncertainties that could
cause actual future results, performance or developments to differ
materially from those described in or implied by such forward-looking
statements. These risks and uncertainties include such things as: the
highly competitive and evolving nature of the industry in which we
compete; the rapidly changing retail environment; any inadequacy,
interruption, integration failure or security failure with respect to
our information technology; the impact of significant fluctuations and
volatility in various input costs, such as cotton and oil-related
materials, utilities, freight and wages; our ability to properly manage
strategic projects; significant fluctuations in foreign exchange rates;
our ability to attract and retain a senior management team with the core
competencies needed to support our growth in global markets; legal,
regulatory, political and economic risks related to our international
operations; our ability to successfully integrate acquired businesses;
our reliance on a relatively small number of customers for a significant
portion of our sales; and other risks identified from time to time in
our most recent
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