HanesBrands Q2 profits fall 18.5 percent

HanesBrands said on Wednesday its Q2 net profit for 2018 fell by 18.5 percent, while revenues increased by 4.2 percent from the same period last year. For the first six months, the company's net income declined 9.5 percent to 220 million dollars), while net sales increased 5.3 percent to 3,186.9 million dollars.

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The company’s net profit for Q2 2018 was 140.6 million US dollars, down from 172.5 million US dollars a year earlier. Revenues increased to 1,715 million US dollars. The profit margin of the company slid to 8.2 percent compared to 10.5 percent a year ago.

HanesBrands Inc was founded in 1901 by John Wesley Hanes and is based in Winston-Salem, North Carolina, United States. HanesBrands is a marketer of everyday basic innerwear and activewear apparel in the Americas, Europe, Australia and Asia/Pacific under brands such as Hanes, Champion, Bonds, Maidenform, DIM, Bali, Playtex, JMS/Just My Size, Nur Die/Nur Der, L’eggs, Lovable, Wonderbra, Berlei, Gear for Sports and Alternative.

Offering men’s, women’s and children’s basic clothing, the New York-listed company has over 67,000 employees worldwide and operates more than 245 stores.

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Picture:Facebook/Hanes