Following the news of the resignation of its Chief Financial Officer, effective from 28th February, HanesBrands Inc. stated on Thursday that it anticipates reporting fourth-quarter net sales slightly above the top end of its projection range and adjusted operating profit at the midpoint of the range.
Steve Bratspies, CEO of HanesBrands said: “We are pleased we delivered fourth-quarter net sales and adjusted operating profit that was above or in line with our outlook given the dynamic macro environment, including ending 2022 with inventory units below last year’s level.”
The Winston-Salem, North Carolina-based company, announced that Scott Lewis, the organisation’s Controller and Chief Accounting Officer, will fill Dastugue’s position temporarily as Chief Financial Officer. Dastugue, who left the company for personal reasons, will stay on as a financial consultant for the business through the second quarter of 2023.
“Our ‘Full Potential’ plan is progressing and we have a clear financial strategy that we will continue to execute, including plans to refinance upcoming maturities as well as increase cost savings,” said Bratspies.
HanesBrands reported a decrease in its most recent trading update in November as consumer spending in its key US market slowed, US retailers reduced their inventory levels and some Asian markets proved unreliable.
According to the corporation, net revenues from continuing operations decreased by 7 per cent to US $ 1.67 billion in comparison to the prior year, which included a US $ 59 million negative impact from foreign exchange rates. Net sales decreased by only 3 percent when measured in constant currency.
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