The Hanesbrands Board of Directors started finding a new CEO (Chief Executive) and has engaged the services of Consultancy Spencer Stuart to help identify suitable candidates for the role.
The upcoming transition from CEO will be the expected important indicators as the company’s quarterly and annual performance, which indicates the effective implementation of its strategic reform plan.
Bratspies, the former Walmart director, will also resign from the board of directors when he kicks off as CEO, but will continue in an advisory capacity to guarantee a seamless leadership transition.
Chairman of the Board Bill Simon said: “We are actively looking for the next leader who will continue to build at our momentum for the next chapter of the growth of the company. We will provide updates where necessary. On behalf of the entire board we will value the transforming leadership Steve During his term of office as a CEO, has demonstrated to make Hanesbrands a new and better company.
“Steve led Hanesbrands through a turbulent period in our industry, overhauled the business model of the company, completing the sale of the champion activities and positioning of Hanesbrands as a global powerhouse in basic principles and inner clothing. Under the leadership of Steve, the company has reduced its focus And it is now and is on schedule to deliver even stronger performance and to increase shareholders’ returns in the coming years ”
In the fourth quarter of 2024, the net turnover of Hanesbrands of continued activities continued $ 888 million, an increase of 4.5% compared to the previous year.
The company attributed the growth to cost -saving initiatives and reduced the input costs that increased gross profit by 14% to $ 390 million and adapted gross profit by 15% to $ 392 million.
With 380 basic points, the gross margin extended to 43.9% and adapted gross margin with 400 basic points to 44.1%.
During the quarter, the business profit of Hanesbrands saw an increase from 27% to $ 120 million with an operational margin with 240 basic points to 13.5%. The adapted business profit sounded with 33% to $ 126 million.
The income of the company from continued activities were $ 46 million in Q4 FY24, a decrease of $ 99 million in the same period a year ago. The profit per watered share was $ 0.13 against $ 0.28 in Q4 FY23.
The company noted that the tax year 2025 will include an extra week and ends on January 3, 2026. Hanesbrands anticipates net turnover of continued activities between $ 3.47 billion and $ 3.52 billion, good for the exchange rate of foreign currency – rates of around $ 60 million.
The center forecast suggests turnover in accordance with the previous year on a reported basis and an increase of approximately 1% based on organic constant currency.