Coinciding with the announcement of Steve Bratpies, CEO stepping down from his position by 2025-end, HanesBrands reported better-than-expected sales in Q4, FY25.
The company’s sales from continuing operations increased by 4.5 per cent to $888 million, with sales from the US rising by 3 per cent and international sales increasing by 2 per cent due to the growth witnessed in Australia, the Americas, and Asia markets.
However, the company reported a net loss of $12.9 million for the quarter ending December 28, which includes a $58.5 million loss from discontinued operations due to the sale of Champion in September.
The company delivered a strong quarter and full year, exceeding expectations due to the success of its transformation strategy, states Bratpies. HanesBrands enters 2025 as a more simplified and focused business, well-positioned for positive sales growth, margin expansion, strong cash generation, and debt reduction, he adds.
HanesBrands has engaged Spencer Stuart to assist in the search for its next CEO. Bratspies will remain in an advisory role during the transition. Bill Simon, Board Chairman praised Bratspies' transformative leadership, noting his role in overhauling the operating model, selling the Champion business, and positioning HanesBrands as a global powerhouse in basics and innerwear.
HanesBrands' current brand portfolio includes Hanes, Playtex, Bali, L'eggs, Just My Size, Barely There, Wonderbra, Maiden form, Berlei, and Bonds.
