HBI - Clothing Company HanesBrands Q3 Earnings Miss Estimates - Activewear & Consumer Spending Slowdown Take Its Toll | Benzinga
HanesBrands Inc (NYSE: HBI) reported a third-quarter FY23 sales decline of 9.6% year-on-year to $1.51 billion, missing the analyst consensus estimate of $1.55 billion.
The constant currency sales declined 9.3% with growth in Latin America and Japan as well as consistent performance in U.S. Innerwear more than being offset by a decrease in U.S. Activewear, the continued macroeconomic-driven slowdown in consumer spending impacting Australia, as well as decreases in Europe and parts of Asia. Innerwear sales were ...