Hanesbrands targets $1.60 billion revenue in Q4

American fashion retailer, Hanesbrands Inc expects to earn between $1.60 and $1.66 billion revenue in Q4. In its third quarter that ended on September 26, 2020, the company’s net sales declined 3 per cent Y-o-Y to $ 1.81 billion compared to $ 1.87 billion recorded in the third quarter of 2019.

It sold $179 million in personal protective garments across the globe. Excluding the sales from the exited C9 Champion as well as DKNY apparel license in addition to the impact of changes in foreign exchange rates, its total constant-currency net sales this quarter rose by 2.6 per cent.

Spurred by protective apparels, the company’s innerwear sales rose by 37 per cent. Excluding protective apparels, its innerwear sales rose by 8.4 per cent, which is not bad. Activewear sales slumped 41 per cent as lots of sports events were called off this year.