Hanesbrands’ 1Q Result Preview Roughly In Line With Our Expectations; Shares Undervalued
Narrow-moat Hanesbrands’ preliminary estimate of first-quarter sales of $1.38 billion (roughly 13% growth) and adjusted EPS of $0.28 to $0.29 puts the company solidly on track to achieve our full-year estimates of 7% revenue growth and adjusted EPS of $1.91, a notion reinforced by management, who reaffirmed full-year guidance. We continue to believe that Hanesbrands is well-positioned to withstand weak apparel demand and mall traffic as well as e-commerce shifts given the replenishment nature of...Hanesbrands is a marketer of basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under some apparel brands, including Hanes, Champion, Bonds, DIM, Maidenform, Bali, Playtex, Lovable, Bras N Things, Nur Die/Nur Der, Alternative, L'eggs, JMS/Just My Size, Wonderbra, and Gear for Sports. The company's segments are: Innerwear, which includes apparel products, such as men's underwear, women's panties, children's underwear, socks and intimate apparel; Activewear, which includes T-shirts, fleece, performance apparel, sport shirts and thermals; and International, which includes innerwear, activewear, hosiery and home goods products, sold outside of the United States.
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