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Thursday, November 05, 2020 11:00:32 AM
Momentum across the business: Apparel revenue trends improved sequentially in each business segment. Global sales of Champion grew nearly 130% over the previous quarter, and consumer demand remains strong.
Strong cash flow: The company delivered another strong cash flow quarter, generating $249 million of operating cash flow. The company expects to end the year with higher-than-anticipated inventory of personal protective garments, but continues to expect to generate positive operating cash flow in the second half and for the full year.
Digital progress: For the third quarter, online sales increased nearly 70% on a rebased basis through company e-commerce websites, retailer websites, large internet pure-plays, and business-to-business customers.
Improved liquidity: The company ended the third quarter with $2 billion of liquidity, up from $1.8 billion last quarter, while paying its regular dividend and reducing debt by approximately $130 million.
Sustainability goals: In the quarter, Hanesbrands announced 2030 global sustainability goals, including addressing the use of plastics and sustainable raw materials in products and packaging and improving the lives of 10 million people through initiatives that focus on health, education and wellness. In addition, the company launched a new sustainability website, www.hbisustains.com, designed to increase transparency on key metrics, including diversity, human rights benchmarks and risk assessments for investors.
COVID-related uncertainty: The company continues to operate in a highly uncertain environment due to increasing concerns of COVID-19 and increased restrictions by governments around the world.
Recent HBI News
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 07:02:55 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/09/2024 11:02:38 AM
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