HanesBrands Saw a 16% Decline in Sales in Q4, Profitability Under Pressure

2月 06, 2023

On February 2, the American underwear and sportswear manufacturer HanesBrands Inc. (NYSE: HBI), the parent company of Champion, announced results for the fourth quarter and full-year 2022. In the fourth quarter, net sales fell 16% year-over-year to $1.47 billion (-13% at constant currency).
Although sales increased in Asia and Australia, Champion’s global sales decreased 18% (at constant exchange rates: -14%) compared to the prior year, with a 21% decline in the U.S. and a 13% decline internationally. This is due to weak consumer demand and retailer inventory reductions in the U …