Hanesbrands Inc.
TypePublic company
Founded1901 (1901)
FounderJohn Wesley Hanes – Shamrock Mills,
Pleasant H. Hanes – P. H. Hanes Knitting Company
HeadquartersWinston-Salem, North Carolina, U.S.
Number of locations
252 outlet stores (2015)
Key people
Stephen B. Bratspies
(CEO)[1][2]
Scott Lewis
(CFO)[3][4]
BrandsHanes
Champion
Playtex
Bali
L'eggs
Just My Size
Barley There
Wonderbra
Maidenform
Berlei
Bonds
RevenueIncrease US$7.0 billion (2019)[5]
Increase US$889.7 million (2019)[5]
Increase US$600.7 million (2019)[5]
Total assetsIncrease US$7.4 billion (2019)[5]
Total equityIncrease US$1.2 billion (2019)[5]
Number of employees
61,000 (January 2, 2021)
Websitewww.hanes.com/corporate

Hanesbrands Inc. is an American multinational clothing company based in Winston-Salem, North Carolina.[6] It employs 65,300 people internationally.[7] On September 6, 2006, the company and several brands were spun off by the Sara Lee Corporation.

Hanesbrands owns several clothing brands, including Hanes, Champion, Playtex, Bali, L'eggs, Just My Size, Barely There, Wonderbra, Maidenform, Berlei, and Bonds.

History

The original Hanes outlet store was housed in a room adjacent to their factory. Hanesbrands currently operates and owns around 220 Hanesbrands, Maidenform and Champion retail stores across the US.[8] The company's flagship store is located in Winston-Salem, North Carolina and opened in summer 2008. Stores range in size from 2,500 to 17,000 square feet Hanesbrands has companies in various parts of Europe and Eastern Europe, including the United Kingdom, Italy, Germany, France and Spain. Sales revenue for 2010 was $4.33 billion and gross profit was $1.41 billion.[9]

In 2011, WikiLeaks revealed that the corporation had previously lobbied the State Department to prevent the raise of Haiti's minimum-wage to $0.61 an hour from $0.31 an hour.[10]

On July 24, 2013, Hanesbrands agreed to acquire Maidenform for $575 million.[11][12]

On July 15, 2016, Hanes acquired the Australian-based clothing and underwear and clothing company Pacific Brands[13]

In October 2017, Hanes announced a $60 million acquisition of Norcross, GA based Alternative Apparel.[14]

In 2018, the company opened its first brick-and-mortar Champion brand retail store in Los Angeles.[15] Currently there are 20 Champion stores open.[16] Hanesbrands also has companies in United Kingdom, Italy, Germany, France and Spain.

In November 2019, Chief Financial Officer Barry Hytinen left the company for a position at the storage and information management services company Iron Mountain.[17]

Hanesbrands made a statement in April 2021 that Michael Dastugue will be assuming the role of chief financial officer on May 1. The company has not had a permanent CFO since the departure of Barry Hytinen in 2019, with chief accounting officer Scott Lewis serving as the interim CFO since January 2020. Mr. Dastugue, according to analyst David Swartz of Morningstar Research Services, will be leading the company in adapting to a growing customer preference for online shopping.[18][19][20]

See also

References

  1. ↑ "Board of Directors | Hanesbrands Inc". ir.hanesbrands.com.
  2. ↑ "HanesBrands Board of Directors Appoints Stephen B. Bratspies as Chief Executive Officer, Effective Aug. 3, 2020". www.businesswire.com. June 9, 2020.
  3. ↑ Hardison, Kathryn (12 January 2023). "Hanesbrands CFO Michael Dastugue Resigns; Scott Lewis Named Interim CFO". Wall Street Journal.
  4. ↑ "HanesBrands Updates Fourth Quarter 2022 Financial Outlook; Announces Departure of Chief Financial Officer Michael Dastugue and Refinancing Plans". www.businesswire.com. 12 January 2023.
  5. 1 2 3 4 5 "HBI Income Statement — Hanesbrands Inc. Stock — Yahoo Finance". finance.yahoo.com. Retrieved 15 June 2020.
  6. ↑ "Contact us". Hanesbrands. Retrieved on October 26, 2010. "Hanesbrands Inc. 1000 East Hanes Mill Road Winston Salem, NC 27105 United States."
  7. ↑ "Hanesbrands Inc. :: Our Company". www.hanesbrands.com. Archived from the original on November 28, 2006.
  8. ↑ "Hanesbrands Outlets Website". Hanesbrands Outlets Website. Hanesbrands. Retrieved 3 December 2022.
  9. ↑ According to 2010 Form 10-k.
  10. ↑ Johnson. "WIKILEAKS: U.S. Fought To Lower Minimum Wage In Haiti So Hanes And Levis Would Stay Cheap". Business Insider.
  11. ↑ "Hanes to Buy Maidenform for $575 Million". The New York Times. July 24, 2013. Retrieved July 25, 2013.
  12. ↑ "Hanes to Buy Maidenform for $575 Million". The Wall Street Journal. July 24, 2013. Retrieved July 25, 2013.
  13. ↑ "HanesBrands Completes Acquisition of Pacific Brands Limited". Company announcement. 28 April 2016.
  14. ↑ "Hanesbrands acquires Georgia apparel firm for $60M". www.bizjournals.com. Retrieved 2020-06-08.
  15. ↑ Whittington, Lloyd (2018-04-09). "Hanebrands' Champion opens first U.S. retail store (PHOTOS)". www.bizjournals.com. Retrieved 2020-01-17.
  16. ↑ "Champion Stores Listing". ChampionUSA. Retrieved 2013-07-25.
  17. ↑ Warfield, Andy (2019-11-26). "Triad apparel company CFO resigns to take job with Boston company". www.bizjournals.com. Retrieved 2020-01-17.
  18. ↑ Broughton, Kristin (2021-04-29). "HanesBrands Names New CFO as Pandemic, E-Commerce Weigh on Its Business". Wall Street Journal. ISSN 0099-9660. Retrieved 2021-04-30.
  19. ↑ Singh, Prachi (2021-04-29). "Michael Dastugue to join HanesBrands as CFO". FashionUnited. Retrieved 2021-04-30.
  20. ↑ "HanesBrands Names Michael Dastugue Chief Financial Officer". finance.yahoo.com. Retrieved 2021-04-30.

Further reading

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