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Hanesbrands Inc HBI

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Hanesbrands' Q3 Results Solid Despite Virus-Related Challenges; Shares Very Attractive

David Swartz Equity Analyst

Analyst Note

| David Swartz |

Narrow-moat Hanesbrands’ profitability shone in the third quarter despite input cost inflation, logistical difficulties, and the unexpected virus-related closures of about two thirds of its stores in Australia (since reopened). We do not expect to make any material change to our $26 fair value estimate and continue to view Hanes as one of the few significantly undervalued opportunities in apparel manufacturing.

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Company Profile

Business Description

Hanesbrands manufactures basic and athletic apparel under brands including Hanes, Champion, Playtex, Bali, and Bonds. The company sells wholesale to discount, midmarket, and department store retailers as well as direct to consumers. Hanesbrands is vertically integrated as it produces more than 70% of its products in company-controlled factories in more than three dozen nations. Hanesbrands distributes products in the Americas, Europe, and Asia-Pacific. The company was founded in 1901 and is based in Winston-Salem, North Carolina.

1000 East Hanes Mill Road
Winston-Salem, NC, 27105
T +1 336 519-8080
Sector Consumer Cyclical
Industry Apparel Manufacturing
Most Recent Earnings Sep 30, 2021
Fiscal Year End Jan 1, 2022
Stock Type High Yield
Employees 61,000