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    HanesBrands Inc (HBI)

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    Hanesbrands Inc. (HBI) is a global leader in branded everyday apparel, operating across the Americas, Australasia, Europe, and Asia. The company designs, manufactures, sources, and sells a wide range of innerwear and activewear apparel under some of the world’s strongest apparel brands, including Hanes, Champion, Bonds, Maidenform, Bali, Playtex, and others. HBI's products are marketed through various channels, including mass merchants, department stores, specialty stores, company-owned retail stores, and e-commerce platforms.

    1. Innerwear - Offers basics such as men's underwear, women's panties, children's underwear, socks, and intimate apparel like bras and shapewear.
      • Brands: Hanes, Bali, Maidenform, Playtex, Champion, Bras N Things, Polo Ralph Lauren (licensed).
    2. International - Sells innerwear, activewear, and home goods outside the U.S..
      • Brands: Champion, Bonds, Sheridan, Bras N Things, Hanes, Wonderbra, Playtex, Berlei, Zorba, Sol y Oro, Rinbros, Polo Ralph Lauren (licensed).
    3. Activewear - Provides T-shirts, fleece, sport shirts, performance T-shirts, shorts, sports bras, thermals, and teamwear.
      • Brands: Champion, Hanes, Gear for Sports, Comfortwash, Alternative, JMS/Just My Size, Hanes Beefy-T.
    NamePositionStart DateShort Bio
    Stephen B. BratspiesChief Executive OfficerAugust 2020Previously Chief Merchandising Officer at Walmart (2015–2020) and held executive roles at PepsiCo's Frito-Lay division and A.T. Kearney.
    M. Scott LewisChief Financial Officer & Chief Accounting OfficerJuly 11, 2023Joined HBI in 2006; held roles including VP of External Reporting and Interim CFO (Jan 2020–May 2021, Mar 2023–Jun 2023). Former senior manager at KPMG.
    Joseph W. CavalierePresident, Innerwear – GlobalFebruary 2021Former President and GM at C&S Wholesale Grocers (2020) and Chief Commercial Officer (2018–2020). Held leadership roles at Newell Brands, Unilever, and Kraft Foods.
    Vanessa LeFebvrePresident, Activewear – GlobalAugust 2022Former SVP, Commercial, North America at Adidas. Held leadership roles at Lord and Taylor, Stitch Fix, Macy's, and T.J. Maxx. Departing upon Champion business sale.
    Michael E. FairclothEVP, Supply Chain – Global2019Held various roles at HBI, including Group President, Global Operations (2019–2020). Former VP, Industrialization at Sara Lee Corporation.
    Kristin L. OliverEVP, Chief Human Resources Officer & Interim Chief Legal OfficerSeptember 2020 (HR), December 2023 (Legal)Former SVP and CHRO at Walgreens (2018–2020) and Chico's FAS (2016–2018). Held leadership roles at Walmart, including EVP, People Division.
    Scott A. PleimanEVP, Chief Strategy and Transformation OfficerJanuary 2023Former senior advisor at Boston Consulting Group. Held senior leadership roles at Walmart, including EVP, Merchandising Operations (2017–2021).
    Sharilyn GasawayBoard Member, Member of the Audit CommitteeJuly 9, 2024Former EVP and CFO at Alltel Corporation. Played a key role in a $32 billion private equity buyout and merger with Verizon. Licensed CPA.
    Bill SimonChairman of the BoardDecember 31, 2023Director at HBI since 2021. Former President and CEO of Walmart U.S. and Executive Advisor to KKR & Co..
    1. Given the all-time high gross margin of 41.8% this quarter , how confident are you that these margin levels are sustainable long-term, especially as you balance increased brand investments of over 5% of sales with the need to drive top-line growth in a challenging consumer environment?
    2. While you've paid down an additional $870 million of debt in October and aim for a leverage ratio of 3x net debt to adjusted EBITDA by the end of next year , what risks could impede achieving this target, and how will you balance debt reduction with necessary investments in the business?
    3. Your guidance indicates a return to sales growth in the fourth quarter , but with point-of-sale data only starting to improve slightly , what gives you confidence in achieving this growth amid the ongoing challenging consumer environment?
    4. With the divestiture of Champion and associated supply chain changes, are there potential dis-synergies or stranded costs that could hinder reaching your operating margin target of over 15% , and how are you addressing these challenges?
    5. You've reduced SKUs by 50% as part of assortment management to improve margins , but could this significant reduction limit consumer choice and negatively impact future sales growth?
    Program DetailsProgram 1
    Approval DateFebruary 2, 2022
    End Date/DurationDecember 28, 2024
    Total Additional Amount$600,000
    Remaining Authorization$575,013 as of 2024-09-28
    DetailsAllows repurchases in open market or privately negotiated transactions. Includes authority to establish a Rule 10b5-1 trading plan.