HanesBrands falls on quarterly sales miss, weak annual forecasts

Hanesbrands

13/02/2025 15:55

(Updates)
    ** Apparel maker HanesBrands'  HBI.N  shares fall as much as
24.25% to $5.7, on track for worst day since February 2023, if
losses hold 
    ** 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;))