Hanesbrands Poised to Return to Organic Growth And Makes Acquisition; Shares Undervalued
Hanesbrands announced that it continues to expect third-quarter performance to fall within its previously announced guidance range at $1.8 billion in revenue and adjusted earnings per share of $0.60, implying a return to positive organic revenue growth in-line with our expectations. Furthermore, the company stated that it has purchased privately-held Alternative Apparel in a $60 million all cash transaction, yielding a 3.5 times post-synergy EV/EBITDA multiple. Alternative Apparel is a better ba...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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