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Hanes Brands Inc (HBI) 1Q16 Results: Beats Estimates, Sees Synergies from Acquisitions

Executive Summary

  • Hanesbrands reported net sales of $1.22 billion, up 0.8% from a year ago and slightly above the consensus estimate.
  • Adjusted EPS was $0.26, up 18% from a year ago and beating consensus of $0.22.
  • For 2016, the company continues to expect net sales of $5.8–$5.9 billion and adjusted EPS of $1.85–$1.91. The guidance reflects synergies from the acquisitions of Maidenform, Knights Apparel and Hanes Europe Innerwear.

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