HanesBrands, a U.S.-based global branded basic apparel distributor, reported 25.3% sales growth to $ 1.5 billion in its first quarter (Q1) FY21 ended April 3, 2021 , compared to $ 1.2 billion in the same previous period. tax. However, the company incurred a net loss in the quarter of $ 263.2 million (Q1 FY20: $ 7.8 million).

“Our strong first quarter results showed growth across all business segments,” said Steve Bratspies, Managing Director of HanesBrands, in a press release. “Champion continued to grow rapidly, driven by strong consumer demand. We have gained market share in homewear in the United States, and our launch of the Hanes Total Support Pouch shows how our brands can appeal to younger consumers through a combination of innovative products and compelling marketing.

“Our global online sales have grown by over 80% as we strive to empower consumers to shop when, where and how they want to shop,” added Bratspies.

The company’s gross profit in the first quarter of fiscal 21 increased to $ 602.6 million ($ 706.74 million), while selling, general and administrative expenses were $ 412.5 million. of dollars ($ 370.1 million). Hanesbrands operating profit was $ 190.2 million ($ 47.9 million).

Homewear segment sales for the three-month period jumped 35.0% to $ 570.4 million ($ 422.4 million), while sportswear sales rose 26 , 4% to $ 364.0 million ($ 288.0 million). The company’s international sales for the first quarter of FY21 jumped 18.2% to $ 506.2 million ($ 428.2 million).

“Our first quarter results show the competitive advantages of our supply chain as well as the rapid progress we are making on our plan to full potential to generate long-term revenue and profit growth,” Bratspies concluded in the release. .

Fibre2Fashion News Desk (JL)