HanesBrands announced its financial results

USA: HanesBrands has announced its financial results for the fourth quarter of the 2016 fiscal. The company’s net sales increased 12% to US $ 1.58 billion. The innerwear sales declined 8%, while activewear sales increased 3%. The online channel, including retailer websites, company websites and pure-play ecommerce sites, accounted for approximately 11% of US sales versus 8% a year ago. Furthermore, the acquisitions of Pacific Brands of Australia (now Hanes Australasia), Champion Europe and Champion Japan, as well as organic growth in Asia, drove 78% growth in international sales in the reporting period. However, the Direct to Consumer segment sales dived 12%.

In the full year period, net sales increased 5% to US $ 6.03 billion. Operating profit also registered a growth of 30% to US $ 776 million. The acquisitions resulted in 35% growth in international sales for the full year and contributed US $ 456 million in the mentioned period.  The direct to consumer segment sales decreased 8%.