BUZZ-HanesBrands falls on quarterly sales miss and weak annual forecasts

Reuters
13 Feb
BUZZ-HanesBrands falls on quarterly sales miss and weak annual forecasts

** Apparel maker HanesBrands' HBI.N shares fall 3.7% to $7.38 premarket

** Co posts fourth quarter net sales of $888.4 million, missing analysts' expectations of $950.3 million, according to data compiled by LSEG

** Forecasts annual sales between $3.47 billion and $3.52 billion, below estimates of $3.66 billion

** Expects annual adjusted earnings per share to be in the range of 51 cents to 55 cents, below analysts' expectations of 57 cents

** HanesBrands says CEO Steve Bratspies will depart at the end of 2025, or upon the appointment of his successor

** HBI stock rose 82.5% in 2024

(Reporting by Aamir Sohail in Bengaluru)

((Aamir.Sohail@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10