The US clothing company HanesBrands reported that its first-quarter sales increased 2.1 per cent to US $ 760 million, which was a better-than-expected growth rate. However, the company also identified challenges in its local intimates apparel sector. According to the corporation, US sales fell by 1 per cent.
The company said that it delivered year-over-year growth in its basic, active, and new business sectors while staying focused on core growth pillars like innovation, greater brand investments, and additional programming possibilities.
The owner of the Bonds and Berlei knickers brands, among others, stated that a US $ 12 million headwind from unfavourable foreign exchange rates was part of the reported 2 per cent decline in overseas sales. Sales growth in Asia and Australia, as well as consistent growth in the Americas, contributed to a 4 per cent increase in international sales on a constant currency basis.
During the three months that ended on 29th March, ongoing operations generated US $ 14 million in revenue as opposed to US $ 33 million in loss.
The company stated that it anticipates sales from ongoing operations to range from US $ 3.47 billion to US $ 3.52 billion in the future, including anticipated headwinds of around US $ 60 million due to fluctuations in foreign exchange rates.
