HanesBrands released its 2015 Q1 report today, April 24. The company attributes its 14% net sales increases (to $1.2 billion) to its acquisition and execution strategies. “We are off to a great start in 2015, once again delivering a double-digit increase in EPS, while tracking to our full-year growth plans,” Hanes chairman and CEO Richard A. Noll said in a statement. “Our acquisition strategy continues to create value with DBApparel, Maidenform and Gear for Sports, all contributing substantially to our double-digit growth. In addition, we are raising our 2015 performance outlook to reflect the recent acquisition of Knights Apparel.”
Due to the Knights Apparel acquisition, Hanes is increasing guidance and planning 2015 net sales up (from $5.77bn to $5.825 bn) to approximately $5.9bn to $5.95bn, estimating $160 million in added sales from the mass collegiate logo brand.