Sales rise 2.7%
Hanesbrands (HBI) reported its third-quarter results on November 1. Third-quarter sales of $1.85 billion missed the consensus estimate of $1.87 billion. However, on a year-over-year basis, overall sales rose 2.7%. An unfavorable foreign exchange movement wiped out $22 million from the overall sales. Organic sales were up over 1%, on a constant-currency basis.
The Champion brand’s performance and consumer-directed sales remain strong. Overall sales of the Champion brand increased 30%, on a constant-currency basis. Global consumer-directed sales were up 15%.
However, subdued performance from the intimate apparel business remains a concern. Third-quarter innerwear sales fell 6.9% due to slow replenishment orders. Activewear sales rose 6.8%. International sales jumped 11.3%, mainly due to strength in the Champion brand’s sales.
For the fourth quarter, sales are expected at $1.70 billion–$1.74 billion. Organic sales on a constant-currency basis are expected to be up 3.5%. Acquisitions are expected to contribute $45 million to the top line. Foreign exchange headwinds should wipe out $29 million from the top line. Wall Street is projecting sales growth of 3.8% to $1.71 million.
For 2018, sales are expected at $6.74 billion–$6.78 billion, versus the earlier guided range of $6.72 billion–$6.82 billion. Wall Street analysts estimate sales growth of 4.3% to $6.75 million.
VF Corporation (VFC) announced its results for the second quarter of fiscal 2019 on October 19. Its revenue of $3.90 billion beat the consensus estimate of $3.87 billion. On a year-over-year basis, revenue was up 15%, driven by higher sales from international and D2C operations.
For the third quarter, analysts expect PVH Corp (PVH) to report sales growth of 7.5% to $2.54 billion. Strength in its Tommy Hilfiger and Calvin Klein brands is expected to cushion its top-line growth. PVH is expected to announce its results on November 28.
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