HBI - Earnings call transcript Q4 2024

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Operator

Good day, and thank you for standing by. Welcome to the Hanesbrands Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to T.C. Robillard, Vice President of Investor Relations. ahead. go Please

T. Robillard

and call everyone, the quarterly Hanesbrands Good webcast. welcome conference and investor day, to

We be quarter pleased review our everyone are to had the progress update provide has issued after on news an release the earlier chance fourth a of we Hopefully, here XXXX. to today today. to

Champion Champion XXXX, the housekeeping operations. the Recall, discontinued of business said to item, quick quarter would sale a we be of to our with fourth a eventually operations. June temporary and results, time the business we Japan announced business we we would As Champion move that beginning period have we for of Global reclassified in the licensee when a discontinued Japan

to Therefore, as are The XXXX and on current by end not back In the quarter fourth Japan quarter, Champion full fourth contemplated consensus we guidance fourth notified discontinued comparable estimates. the plans directly in not of the from exit operations XXXX. authentic results moving year guidance guidance our our business to to November or brands quarter previous initial was our to our license as continuing X. well of operations

documents FAQ supplemental financials to release addition earnings X is Japan and we Champion financial reflecting One and our provided have additional packet In with historical today. a document, recast discontinued operations.

an as as from and full quarter well fourth year overview is other bridge go-forward our that earnings an prior to a The of business. guidance provides handout results the updated

section can found well documents in the call the as Investors our website. as of be replay this of hanes.com All

results the based and risks differ subject current materially. our we either today, expectations or These actual that statements certain to may are statements call on in On session. prepared to uncertainties cause in remarks or question-and-answer forward-looking may associated and belief are the make

time ability to with the include other dynamics, the releases. initiatives, inflationary deleverage strategic These risks ability as our risks restructuring action-related found successfully environment. including and various our those current filings SEC, demand also news macroeconomic consumer the anticipated may our in website frame be related include our conditions, execute our items, those as to These our and which to our well detailed in on on

update speak not to to the any restructuring forward-looking are statements, and today's company our they speak The continuing or consolidated Unless all at financial which guidance does and revise otherwise undertake only results references which operations. and time made. to exclude action-related other to charges noted,

other GAAP, quarter's news our including Additional and can results performance measures information these found on and to in be guidance, the non-GAAP reconciliation today's of a release.

With Chief me today and Steve Officer. Officer; our are Chief on Scott call Lewis, the Financial our Bratspies, Executive

then the For to today's your will call, over open it brief will to remarks, call we'll Scott I provide some Steve now and turn and Steve. questions. up

Stephen Bratspies

Thank and to the earnings you, our across T.C. and the debt quarter welcome quarter everyone, our all results flow and Hanesbrands for year including operating our reduction. key call. fourth of morning, cash margins, EPS, sales, metrics, Good delivered strong full

improve would with despite momentum as and into good this consumer point we result, reached inflection clear environment, on and to had Coming are We a and the leverage. margins value. entering we an said strong and expectation, create trends our sales the throughout we muted that our XXXX, year direction foundation, XXXX delivered our that in a shareholder

which the growth point supporting investment. to pivoting due basis year basis a year-over-year points the each quarter, savings levels with pre-pandemic in to initiatives management. assortment of and than XXX year. brand XX.X% improved permanent higher cost quarter increase basis XX.X%, trends to for points Operating XXX is margin improved fourth while X%. to over XXX Gross margin highlights Sales prior Some improved structurally expanded

a focus leverage holding consumer-centric reduced company, revenue down streamline and paid operating share we debt the to a streams. global and that our while supply around We the the and additional per is turns. years unexpected results consumer innovation, share share successful X world. substantially XXX%, Innerwear execution a an a environment reposition shifted These and and we both business. even brands, talent from capabilities market over global our with a our We're company chain gaining X and Earnings business portfolio our We headwinds. past of on increased now number of focused $X strategy new to by Hanesbrands over where nearly and marketing, reignited added of and leverage reflect a facing billion simplified challenging company

We e-comm our our reduction growth-related associate our costs we've talent capabilities. cost to expanded efficiencies, lower fixed all a proposition, And core of management consumer-led competencies allow We our and segmented improve advanced analytics cycle implementing and built chain strategically life initiatives and for AI. SKU higher innovation, and of and while investments. supply application with levels build disciplined streamlined model global and operating the and

focused As to organization's began year next work previously I collective on years with all asset XXXX I the XXXX a and their value base, advantages for to and create years. competitive to the over hard show successfully levers our the want X several entered shareholder future. multiple over benefits reposition more past for as of a a Hanesbrands the company, the efforts simplified significant results. thank associates our strong new highlighted, in business a delivering of We to for powerful

Bali. is powerhouse apparel, to that We Hanes, essential in We're including operating a category Innerwear basic in brand-driven own Maidenform market-leading brands, global a consumers. core and and Bonds, and

been and quality are for brands trusted by Our comfort and consumers generations. have with synonymous

market innovation gains, proven and franchises. our that attracting share consumer-centric space expansion is brand driving a younger consumers have to and is retail process repeatable We

to have go-to-market global and a wants sourcing network scale, And chain demand have advantaged and We supply breadth distribution as well with world-class to capabilities owned the global wherever shop. consumer we as an enabling capture diversified manufacturing operation. us

generate competitive million $XXX of generate a our and over margins strengths further consistent more top leverage XX% than expand growth, year flow. to expect operating we forward, line Going cash and to

Looking well positioned to believe to XXXX, we towards significant progress these we're make goals.

currency expect year, distribution as within of and driven streams new in on the printwear deliver from sales revenue opportunities We celebrate channel, the and fourth Beefy-T. and gains innovations, constant the contributions organic to positive Hanes momentum share the market anniversary key new by we channels, for will quarter's XXth growth leverage build

and growth-related growth $XXX and on further XX%, all end As this down EPS of our growth using free magnifies reduce margin bring our will paydown XXXX. cost levels we cash down expected we to rates This growth to focused maintaining combination our we our profit driving to leverage. the XX% further Xx cash as more flow of investments. to flow high remain the we year, SG&A, of improve particularly expect continue structure, sheet of expansions of of operating within move million. while leverage pay down is operating growth debt P&L, balance And The by profit of debt and than around

generation transformation growth, So positioned competitive debt We seeing as pay increased and continued benefits the results of well shareholder for strong new sales further our and deliver as better build our in we're we drive company. through cash strategy closing, and and a down. to year. enter upon expansion, the quarter strong advantages margin XXXX returns the

succession Before we plan the I I want over, announced turn to this the call touch leadership morning. on

inflection in reached point positive our executing and a strategy. important have We

phase, leader Board, and next right as company's believe to to to next the momentum. our identify Looking growth ahead company's a work now the will build we begin time continue upon the search is the who transformation

Hanesbrands, and team remarkable a to alongside it's at have work them. We an honor

of how we I'm and much focused, Over we're generating cash and a the more around taken, successfully of while positioned world. the future. the years, proud of done more navigating repositioning portfolio and environments. achieved extremely for we've having streamlining Hanesbrands We're actions sheet. transformed a an with profitable. what operate together our Hanesbrands, leaner, strengthened foundation. this the has company and We're our challenging all job we the X stronger last team is a flow, organization extraordinary consistent healthier number how has Today, We're balance

to a window to smooth very the conduct to I'm the with as a position strong of search. a for in forward continuing XXXX, delivering opportunity with working I the in engaged fully fortunate on Board lead and We're transition. and look focused great a team

I'll turn over to with the that, call And Scott.

Markland Lewis

to Thanks, position look and years deliver X Steve. On our strong appreciation drive behalf that continuing want your of to XXXX. together for forward to a express future. for to past and strategy a I we've leadership the and all personal the to I Hanesbrands, note, business the company the our on over to work accomplished transform

growth XXXX. and over financial generate With in the and improving believe the add let strong positioned debt Hanesbrands through performance global combination we're the well returning double-digit to simplified we course over next of my years to me strengthened team. returns commitment several term, and Also, and earnings operating strong business reduction, the and Their continued a a shareholders. dedication capital longer to model, and to shareholder of thanks

business eventually Japan of our end we it a we we a quarter, XXXX, and authentic ahead the license licensee discontinued to regarding quarter's Japan Champion notified the said move of Champion speak for period results, the exit to for by quick the to of time fourth the In business the brands item plans temporary of operations. Champion Recall, Japan. I housekeeping announced Before Champion the when a will sale, be schedule.

or beginning fourth to in are business fourth was As that contemplated as full earnings guidance a year XXXX our and full the Japan estimates. prior to quarter's the guidance. our bridges We as directly well not with previous fourth discontinued guidance. consensus comparable an has our guidance results quarter our and been result, operations, Champion to quarter current results year prior results, which reclassified not provided Therefore, our handout

a documents on website. historical Relations supplemental that packet financials. provided also financial our Both includes are recast Investor We posted

metrics. operations. net delivered over and I'll continued results call, on Overall, focus our declined across Sales today's an above organic outlook strong debt-to-adjusted XX% currency a XXX%, Operating all of X on that key nearly quarter basis. year. prior nearly EBITDA profit on fourth turns constant by increased were For X% EPS leverage our basis. increased we increased

The Net foreign XXX Turning to $XXX basis benefit on the quarter. a a transition of exchange basis reflects year X.X% and from points from reported to sales headwind growth revenue point details year-over-year the increased services rates. over million. XXX prior basis

U.S., strategy winning Looking and Innovation, marketplace. socks, segments. helped of our we're our the net within is year, the investments, in drive scrub channel outlook. brand women's performance increased challenging environment, incremental ahead programming particularly the working, over X% and quarter, Despite sales increased online the in our in In growth last at and the our holiday businesses.

growth the in currency our over net transition X% year each driven briefly our assortment agreements innovation. a and our on in-stocks in management quarter increased to other prior business, driven year-over-year the increase bonds own In region. of growth segment, sales respect Champion by effective segment. International sales with service constant retail within was Australia related With better in short-term by to strong sale The Touching on were net our business. our basis,

course down We've sales to growth constant agreements wind from these over expect We these the organic our of currency XXXX. calculation. excluded

Turning to inflation. are saw from initiatives savings and we in continued gross to peak operating both continue expansion margins. and impact year-over-year as our a the from input we cost flowing year-over-year We costs benefit through, see as anniversary margins

savings and and structurally while brand higher supporting are margins driving increased investment. cost management Our initiatives assortment sustainable

XX.X%. down last margin growth with per year to margin $X cost operating prior And increased expense confident expansion earnings the For we can XXX% operating and basis a our in margins points interest we're savings our by reduction the increased gross to visibility higher as in The But combination year XXX and quarter, to to to input was cost in respect continue pay our both over initiatives, EPS we our of share, $X.XX. over year-over-year XX.X%, deliver margins XXXX. in million driven to XXX increased points profit gross debt. and

the our capital Turning million flow lower outlook. year, interest generated working for which sheet. from to cash With $XXX cash flow and management, balance better-than-expected cash exceeded and performance, we disciplined of profit the operations

year. the the from sale the proceeds down paid We The over also strong and balance further we combination strengthened during net of billion our $X sheet, of cash Champion generation, debt

despite and will operating guidance at on continuing guidance. the profit to currency of lower X X.Xx well an the was We based adjusted the a midpoint ranges. Leverage environment. positive turning debt end now than will sales and nearly And to continued of solid basis, with my comments to EBITDA refer all believe positioned was on net the we're from which for end be of basis, along results to Well, year EPS turns a growth growth deliver organic XXXX XXXX. adjusted our operations consumer on constant muted

both and balance given the our operating We improvement savings our visibility have year we the on the further input in margins expect gross for initiatives. and cost cost sheet

assumes XXXX Our refinance maturities all the of of also in XXXX. we first outlook that our quarter

situation current the percent impact cost. the of and Canada, we U.S. expect impact to to Therefore, guidance. single-digit of respect on our U.S. tariff tariffs regarding a cost our China, With low and factored a into cost with incremental does do material China Products not from the recent represents our is goods sold. not input materially our Mexico

those any the we source or With respect countries. from products not Mexico, to manufacture Canada do either and for of U.S.

X% on approximately we full our basis. sales net year, constant represents at of Looking $X.X which organic an currency approximately expect growth billion,

to XXX XX% profit year, increase EPS for increase year. to flow of more XX.X% over to operating expect points million and operating XX%, operating expand approximately and margin prior cash generate basis approximately to the $XXX than approximately expect to we We

Turning the quarter. to first

sales Our be assumes On million. consistent organic year. to with increased expect basis, net net to outlook sales constant an approximately $XXX currency we prior X%

And year, last to $X.XX operating increase XXX year. approximately compared of approximately nearly to points. margin a XX% of to and expect over expand loss $X.XX operating expect prior as EPS We basis profit we

came to in the upon build results XXXX quarter So strategy. like commitment the seeing Steve's for I'd pay we're new growth, We and debt. through to increased margin a closing, to generation sales of as as positioned delivered cash advantages strong competitive year drive and expansion, our strong transformation well returns and our shareholder We company benefits the echo comments. and better further into continued down

I'll with T.C. to And that, the turn call over

T. Robillard

back will concludes allows. Thanks, to and to remarks. the begin our continue over prepared I'll your Operator? now as turn begin We'll the time questions Scott. call That session. operator taking the question-and-answer

Operator

line Our with of comes [Operator the Barclays. from question first Instructions] Paul Kearney

Paul Kearney

what Can confidence positive you this degree the the of behind And And target? in drive and some into the also, sales the you expand future of are visibility about margin drivers can the for ability on talk year and the XX% to control 'XX? expansion, opportunities of company's eventually revenue to us? in both

Stephen Bratspies

about growth to then our ability the for That Thanks start question. let We're you for the confident currency Sure. constant one, margin. and I'll I'll with the organic very positioned, out retail revenue have, the we there, X% out QX, the in but a said, talk as year. I pivot challenging that Scott, look to planned, at still already momentum with where that the that we some we've our space that partners. permanently the investment gained we're have have of key the innovation of brand coming environment we

of I think momentum. we lot a have

to share you our I get. to is market responding think brand, the innovation and the consumer the we've through continues to continued see gains and choose that that can

to into what calling a starting business. also good We're little expand feel streams. of new we're revenue kind core our we So about bit

scrubs talk encouraged business You've in work our done our before. the that's sector. I'm about about apparel being heard Hanes us

of mentioned growth XXth pivot So our with sleepwear product, A innovation a this of the that's feel of company. for about full Beefy-T. new some Printwear fleece we the product, this that's momentum to the opportunity year coming, business, good we behind and to lot business anniversary

Markland Lewis

question. your for Thanks

we're operating in with finished say points XX%. a margins. just over first year me performance let basis We margins, on up in of on with XXX our XXXX margin 'XX. overall So gross really the were pleased They

running it that of fantastic power a you and of we're shows So the through. team business the really did job model delivering the

margins. operating look to XXXX, step-up another As for looking we're in you our

midpoint margins, XX up the Our in us about points. operating XX another basis at points XXX to guide basis has

that's from So margin. coming gross

XX% going from that you're So mix. incremental SKU margin savings about. to We're see benefits low now cost from that we range in talked gross

really we're delivering gross on well margin. So

uplift basis margin bigger effect the down actions actions There, driver SG&A of that we going As you -- be the prior for so be going points XXXX. incremental the on actually basis run taking about expansion well, about the to we're in the see look margin. the XXX to to kind up that year. year you're operating is and of rate points, the delivering of side, It's for going is the margin which -- to annualized of XXX took SG&A

before too spend And offset have these than this side. for talked of on about we with brand on then the had savings more X% the us the at one investments we've a incremental of point technology sales. spend, that this XXXX rate already and people And XXXX,

like in rate our that run So good supports the X% we fully feel that brands, up It a innovation XXXX, we pipeline. investment rate. took is

really we that. about good So feel

So in you're from headwind a not 'XX. spend looking at an brand incremental --

to So you're visibility last we that cost we margins, big in our We the lot can going hitting point, time. it's XX% And of confidence, have over savings. a again, and to we then what 'XX, see what as 'XX plus saw op clearly in operating to margin. see and great we step your in 'XX, the journey get there to expect another

we good So feel really about that.

Operator

question next UBS. Aditya from Kulkarni Our comes with

Aditya Kulkarni

Kulkarni is on Sole. of behalf Aditya Jay This

your a down you, have part I plan? is Could departure just quick bit planned of you to and was us. question announcement of Steve. little this a of whether talk And your So a to was about step The surprise this your for a always follow-up. a of decision kind

Stephen Bratspies

add give but not little what for question. more context. Aditya, a can said maybe There's more the a versus Sure. to you we Thanks, ton I

from transition position, important we're these position really a that ensure really strength. and plans transparent this about beginning feel that of that what's think a we're we I stakeholders is strong

looking And we phase of should great business next We've with our is what my anniversary up look in the out we're be a of strategy. this company. Board, a joining as year positive important for this as and reached point like? coming I'm fifth X-year

this brought a and up clear plan, these We naturally long-range have discussions.

is The plan. as strong sustainable growth, about positioned great And a So fortunate position. We're believe leadership we're right a Board, ago. well cash a foundation, we the I we've team. our time consistent now for few We're more more as minutes And a succession in to flow has again. a built company profitable. generating implement focused, talked

So it's business no the strategy. really that There's with simple. issues

engaged over at smooth lockstep But a for fully am and succession. mistake, profitability are looking want and have to obviously, business make great I deliver continue a everyone in XXXX. really no and I'll successor. we and will transition. I identify of this Board the Board in team And help these opportunity And drive work closely with to to window help you're when factors, The my great I all and know, strong the growth

Aditya Kulkarni

very you the That's you gears then a clear. with talk are Understood. a costs where Champion how and have little guys And bit. just left associated front? little with that runway much on about Could switching eliminating stranded you

Stephen Bratspies

up how up, broke the just Champion, stranded heard very last We we the you part on at but Sorry, if far end. are you eliminating and costs repeat broke it. could

Aditya Kulkarni

have And just much runway how you left.

Markland Lewis

Yes.

step at one So touched -- look Champion eliminating I not the our overall the and things on and really a we opportunity broadly earlier, the this are cost We little back focused transaction costs. Champion very stranded structure. use took bit the stranded to and we on with the costs, of on just

actually 'XX, And lot accelerated a of the we lot into and of XXXX. so out actions in we cost took a

working year pace that saw, took through attributable again, that actions increase on. the you largely margin last to we we're and So the that is

with as actions, complete year. and As the cost going stranded other be essentially that we're this far to

expansion over out. XX% go the basis run how going big that's points you're XXX of getting time. part of rate costs to that you're as you XXXX, again beyond get as plus you so the going the margin And margin forward, the And those to see look and that effect then you to of is full see

Operator

comes question from Lejuez next Our with Citi. Paul

Paul Lejuez

any mass your U.S., 'XX and U.S. for the If looking ordering And stores, F down how from breaks in in maybe sell-through strongest weakest patterns, you for talk of the can international. F department of the business you're in guidance if some you could changes 'XX. expect versus you about to terms about in patterns what talk and the within accounts be versus channel and bigger what it

gross you Or on quarterly maybe to we throughout last, talk the upfront, margin, stronger it basis as vice the cadence then going could should If if And think consistent? on back just in curious a or year. about weaker versa? it be the about is

Stephen Bratspies

Sure.

let handle margin. Let me the you Scott, start, I'll

year. we we expect the the on to works about segment for essentially a X% but single our for basis segment, low other International on in million, be basis. as about have line U.S. $XX in top That do that growth flat in X% On year-over-year be the roughly we constant And will that not constant that said, growth. that's guide, currency up out digits. then currency

that talked going that don't channels no the them. seen major ordering Regarding shifts anticipate we've patterns you forward, necessarily in about, and

some channels drive there's right others than They're and strong. are expect we're now to continue than we're with doing there and them. we some better in But some others. working growth of out important to us, all hard where really all disruption are and doing to customers Obviously, better

out partners, we're working in we're closely growth also the at well many been to expect out them leadership they play we're and continue lot will winners over improve time. positioned think for the retail that would see as ways well growth. positioned I and to their a where that over plans years, to new with change see there with new and business. build you strong our But of look very of There's

not good, as probably ever better they've relationships been. if retail Our than are today

adapt So out retailers. the there to needs continue and close different we're for to very

Markland Lewis

And margin. on question on the

XXX year-over-year. be earlier, margin quarter, around around points. like year, first is to up full up XX.X% basis In will which XX the the mentioned for XX be gross points So margin were gross to about I we basis expecting

just color on quarter but within in think little year-over-year. together, little your increase margin I putting more a half, more think the each you the about guiding as not should year, model first you a expect we're Now

play to going of have a gross you within Are out margin. things couple

The not seeing And in cost. we're tailwind so in some benefit first the a input cost half cost. stabilizing are much standpoint, we in to overall, the then from like input first I earlier, also of going the accelerated part is costs input a We're actions. lot but see saving half, back mentioned

So you're seeing that earlier. benefit

to You're the about you those bit, benefit year-over-year back going from see a but factors a cadence, the X the mostly half, gross in down little standpoint. think slow about as you margin margin think should

say operating I to should going you year-over-year of a Again, cost big margin. for quarter increase margin in year-over-year would expect SG&A driver that's be margin, a uplift reductions. to operating the each

Operator

next comes Ike with Fargo. question from Boruchow Wells Our

Irwin Boruchow

questions. have Paul. One, piggyback I -- I'll off me Let of X

Scott, on in Just is XX for year. up to the just that I the margin, in XX -- guess, QX, gross XXX so the -- up

side kind half. in Is Or -- you're that is we flips there down something that thinking into the that conservatism? more. bit to cost it is back be a should about? that the of there trying Just on So dig baking headwind the

Markland Lewis

question. Good Yes.

you in talked We've about our margin, before. as gross gross about probably conservatism of So little margin bit outlook. it's this a think

We costs. to really have our visibility good

year. to savings kind of input to we So during cost cost expect the know what from

a accelerated a there's say, of actions lot improvement again, of look bit would So I that as margin that out, taking but year-over-year. you really all conservatism, little we're the

year-over-year And -- of comparison saw we're more about a and this of and anticipated. initially year, first year-over-year to you that half, just profile. as more You in then that than the as 'XX we seeing little far in margin stabilize look lot play out, going the it's a

Stephen Bratspies

would is proud we just hit QX comp that a big but we're it, other is that's XX.X%, the and a comp. really is -- thing number which glad really big with that I And add of

So year. adjusts your of that through you as numbers go kind the

Irwin Boruchow

enough. Fair Got it.

just Okay. sure And want the follow-up. build year. a to understand for then cash flow the make I I

it, and I you're million cash $XXX I'm so the million. my guess operating question to is, $XXX I guiding net at the when closer get If I in just D&A, I if my rough So income getting, something math, flow. add look

I were to some assume capital there's in you comment, And are benefits there. sure securitization last year? trying and working could that have is, doing of be? in follow-up that? that pieces to baking make cash might And So I'm quantify what year. Scott, those year moving about further benefit you this I into number, from just, you Can kind within talk a for all the can to understand you the that maybe of just flow you happening items receivables line the

Markland Lewis

And on Yes. Definitely. there and up puts way Great question 'XX this We best I'll with to about you. in million. in it frame the just better some as in pleased because it the good flow. margin at feel talk very $XXX you help is cash bridge very there -- I'll again, like to bridge and maybe coming takes the the from all in for 'XX results

I going in So starting mentioned That's to on million interest. is little see is XXX We with growth, of $XX million, profit over you're to to factoring operating growth. going Also were what year-over-year. points. $XXX you're going a the the basis profit the increases, lower have cash see profit

We have lower cash interest in 'XX versus by $XX million. 'XX around

about are that there's year-over-year. level. And consider were actions So Those to to of nonrecurring there that was transactional about also of net costs then like million in cashed. you $XX these lot with deal as Champion look XXXX, a transaction, piece restructuring nonrecurring another the at

-- those are so not level. at be And repeating that we'll

you're factor for the looking did. all calculation you that than So you in, in you upside really lot a more that get what

getting $XXX last harvesting ahead lot attributable about in million saw we capital lot harvesting think and as working to of that transactions. is consider benefit working the year. cash. total were was of The Champion of the capital Champion, about had capital we and other tied there, things benefit We of to to benefit of couple A was cash the drive in cash of those working to XXXX. A transaction of a lot that

going see that to not You're level.

AUR, You in XXXX. a you are be to not is all working inventory, same working to benefit in see to going this saw going capital, benefit year, contributing that level just to capital AP the

And takes XXXX. what have in we good -- do that. actions incremental some benefits we other financing receivable take from last in get and with really really shape not top standpoint, the the anticipating receivables year of incremental in there couple of to on saw any and a puts financing did you $XXX From this you million. years, to But

Operator

Our next question comes from Jim Duffy Stifel. with

Peter McGoldrick

as pricing? Jim. build revenue curious, I to This single-digit you international a basis. inventory Australia channel in you top on into was classify line some the was expectations all outlook? fit is constant outlook, Peter like to for And there position, How volume, growth it low you that the talk if Can your in for does can McGoldrick quarter. your currency on sounds the fill

Stephen Bratspies

Sure.

first, talk fill is of Australia the biggest the No part channel. segment. So in me about that obviously inventory international which let

low and and So the situation. still business. that way a is that sticky being challenging But Inflation it's pulp Australia is it's all run that is in volume-driving where I is consumer there. has little headed. business GDP of part still bit improved like the a really

of The there perform. of our one to challenging consumer making again, that engagement, consumer innovation They're assortment well environment, launched they're standing I'm still. aligned Our And that innovation, in is has solutions sure finding is is and we've driving, a extremely been behavior. new operate to online not business really proud really things good. has really with that team doing continued the really

from U.S. everyday what was that lower lift in found product, actually So some at Bonds we is value the portfolio land a an gaps example of end which we've the the that launched in we call

to a the the in world, that's well. gap company price we addressed market, that, that back So the innovation moving around have really and extremely doing we're global

So about feel not about good there. saw which I X%, in Australia. a we growth in fourth the growth Obviously, Australia while we have quarter in of seen

that of I'm Americas business have well, where about particularly So to The to the fairly in and we grow can opportunity encouraged go. business Mexico. that doing rest continue we our business business, think is

grinding it's inventory driving business, there's or that out good. business International, that pretty globe, no It's the So feel going fill but around business, that's forward. anything like normal we

Peter McGoldrick

opportunity then operating position and about And structure. into what I Printwear, current discuss Can with size you're Very XXXX you the was the it growth seeing how fits to your that streamlined business Printwear means in your outlook. new curious competitive helpful. the Hanesbrands,

Stephen Bratspies

business. in business. new share much are in in place, We Yes. be of that it leadership and that we can the a but of Beefy-T that the hard exact our our being XXth extremely honestly well business, market. think our but with team of breakout working the We pivoting right in focused business a are large And incremental is part it's haven't tremendously our way extremely got don't recently, on a business, a It's highly I not received they hard. partners we anniversary and Hanesbrands part

it as we'll It's more talk And that year. drivers, lot of our one of go growth growth a think them. opportunities got have We've about that's we I many we of next forward. for and one

Operator

from comes of Our with William America. next Bank question Reuter

William Reuter

have I one. just

terms would sales what in Canada, retaliatory that into as put there? the well of there tariffs be the In place, in event were impact as Mexico, your potentially

Stephen Bratspies

because short that product the X way. Yes, is answer don't we move

scenarios, Mexico tariffs on want on -- don't other but between Canada. obviously, and there So those no to out speculate of product there's and impact is I countries,

William Reuter

Okay.

products sales they'd be guess you So into just Canada I into wholesale to retail don't sell customers, your customers, Mexico? be and clear,

Stephen Bratspies

Not U.S. from the

Operator

comes question Carla with next Our from Casella JPMorgan.

Carla Casella

seeing shift a kind can such different wholesale have consumer you're between market? the great touch or within you a trends guys whether of with channels, you retail about Given consumer talk channels

Stephen Bratspies

it Yes, really Carla. Thanks, Sure. is good.

our macro right to seem overperforming at with whole And level customers across be of channels different bunch a have relationships a channels. which great you've different now. the seen We

consistently relatively those channels. with performs business Our

specifics don't I channel the our get to want by business that our expect channel, relatively So macro you into of closely. the performance trends channel should follows but

Operator

for call today's concludes to question-and-answer to I'd session. like T.C. That the remarks. back turn Robillard closing

T. Robillard

soon. great Have to attending look a day. forward thank for I'd like and to with everyone you we call our speaking today,

Operator

conference Thank concludes today's This for call. participating. you

now You may disconnect.

Hanesbrands (HBI) 13 Feb 252024 Q4 Earnings call transcript