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When there is movement in the underwear sector, The Underwear Expert takes notice. HanesBrands, one of the largest mass-market underwear manufacturers, just released its quarterly fiscal results, and its a pretty solid package.
Their overall earnings increased by 7% from 2010. “We achieved record earnings and sales in 2011 with strong performance in several of our categories, including underwear and socks,” Hanes Chairman and Chief Executive Officer Richard A. Noll said.
Hoping to increase sales for the upcoming year by 2-4%, they “expect to get through the challenges of the inflation overhang and outerwear wholesale issues” and “focus on core growth.”