HanesBrands Posts Double-Digit Second Quarter Growth
As many companies are seeing financial losses during the coronavirus pandemic, HanesBrands has experienced double-digit growth in the second quarter.
The Winston-Salem-based apparel company reported second-quarter net sales of over $1.7 billion, with earnings per share up 58 percent. There was also a 68 percent increase in online sales.
Company officials say the earnings growth resulted in part from a pivot to production and sales of personal protective garments, including face coverings and medical gowns.
CEO Gerald W.Evans Jr. said in a news release that the company performed significantly better than expected while establishing a new protective garment business from scratch.
He also credited staff for allowing operations to continue in a safe and prudent manner.