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    David Swartz • Morningstar

    David Swartz's questions to HanesBrands Inc (HBI) leadership

    David Swartz's questions to HanesBrands Inc (HBI) leadership • Q2 2025

    Question

    David Swartz from Morningstar, Inc. asked about the strategy to elevate the international business's profitability to levels closer to US operations and the rationale for making S&S Activewear an exclusive printwear distributor.

    Answer

    CFO M. Scott Lewis stated that broad-based cost-saving initiatives apply globally, but the international segment has a heavier retail component with more fixed costs. CEO Stephen Bratspies added that international margins fluctuate with seasonality, expecting improvement in Q4. Regarding S&S, Bratspies declined to share specifics but described it as a beneficial partnership for a business they expect to grow.

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    David Swartz's questions to HanesBrands Inc (HBI) leadership • Q1 2025

    Question

    David Swartz asked about the weakness in the women's intimates business, questioning if it was due to market conditions or market share loss, and how quickly the category has historically recovered from economic downturns.

    Answer

    CEO Stephen Bratspies clarified the weakness is in the intimate apparel category, not the broader women's business. He attributed the pressure to its typical sensitivity in difficult economies and exposure to the challenged mid-tier department store channel. While acknowledging the Bali and Playtex brands are performing well, he admitted the Maidenform business needs improvement and outlined a pivot to focus on T-shirt bras to address a larger part of the market.

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    David Swartz's questions to HanesBrands Inc (HBI) leadership • Q3 2024

    Question

    David Swartz asked for the basis of the company's expectation for improving sales trends, questioning whether it was driven by point-of-sale (POS) data, discussions with wholesale partners, or a combination of factors.

    Answer

    CEO Stephen Bratspies explained that the expected sales improvement and Q4 pivot to growth are based on several factors, including incremental holiday programs, retail space gains, a rebound in the Australian wholesale business, and effective brand investments. He noted that while the consumer environment remains challenging, POS trends are starting to improve slightly, and these dynamics are factored into the company's guidance.

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