HanesBrands Narrows 2016 Guidance - Quick Facts

(RTTNews) - HanesBrands (HBI) announced it has narrowed 2016 full-year guidance to reflect year-to-date performance and expectations for the fourth quarter. The company expects 2016 net sales of $6.15 billion to $6.18 billion, and adjusted EPS excluding actions for continuing operations of $1.89 to $1.92. The updated guidance compares with previous guidance for net sales of $6.15 billion to $6.25 billion, and adjusted EPS for continuing operations of $1.89 to $1.95.

The updated full-year guidance implies fourth-quarter 2016 guidance for net sales of $1.7 billion to $1.73 billion; and adjusted EPS for continuing operations of $0.57 to $0.60.

Third-quarter adjusted EPS for continuing operations of $0.56 increased 12 percent. For the third quarter, net sales increased 11 percent to $1.76 billion, driven by core organic Innerwear growth and strong acquisition-related International growth. The growth was partially offset by declines in the Activewear and Direct to Consumer segments.