HanesBrands Bares Fourth Quarter 2011 Results
HanesBrands (HBI) essentially reported its fourth quarter 2011 financials ending December 31, 2011. The leading marketer of everyday branded basic apparel bared net sales at $4.4 billion, a figure that represents a a 7 percent increase over the previous year’s score for the same period. Its net income was placed at $267 million, translating to $2.70 per diluted share, which effectively represents a 25 percent increase of 2010’s EPS.
Hanes forecasts to deliver solid results from its core categories for 2012. Hanes Chairman and CEO Richard Noll expressed confidence for the company’s solid performance in view of its record earnings and sales in 2011, revealing strong performances in several of its categories, and expects to sustain its growth in 2012.
The stock, that joined NYSE in the second half of 2006, is currently trading slightly above $27, aiming to break the $36.20 all time high, recorded back in 2008. However, there are at least two resistance levels it has to surpass beforehand: the $30 and the $32.50.
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