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Here are 1-3 brief analogies for Hanesbrands (HBI):

• Kimberly-Clark for everyday clothing and underwear. (Both are manufacturers of essential consumer goods with a portfolio of well-known brands like Huggies/Kleenex for Kimberly-Clark and Hanes/Champion for Hanesbrands.)
• Gap Inc. for underwear, basic apparel, and activewear. (Both are apparel companies managing a range of well-recognized brands, though HBI focuses more on innerwear and basic activewear while Gap Inc. is more fashion/outerwear retail.)
• General Mills for your dresser drawer. (Like General Mills with its portfolio of branded food staples such as Cheerios and Nature Valley, Hanesbrands offers a variety of branded apparel staples like Hanes and Champion for everyday wear.)

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• Women's Innerwear: Includes bras, panties, shapewear, and other intimate apparel designed for comfort and support.
• Men's and Kids' Underwear & Socks: Comprises a range of underwear, undershirts, and hosiery products for men and children.
• Activewear & Casual Apparel: Features athletic-inspired clothing such as t-shirts, fleece, and performance wear for various activities and everyday use.

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Hanesbrands (HBI) primarily sells its products to other companies, which then distribute them to individual consumers through various retail channels. Based on the company's financial filings, its major customer companies are:

• Walmart Inc. (WMT)
• Target Corporation (TGT)
• Amazon.com, Inc. (AMZN)

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Stephen B. Bratspies, Chief Executive Officer

Stephen B. Bratspies was elected CEO and appointed to HanesBrands’ Board of Directors in August 2020. He brings over 25 years of retail, digital, and consumer product leadership experience. Prior to joining HanesBrands, Mr. Bratspies served as Chief Merchandising Officer for Walmart Inc. from 2015 to 2020, where he managed $330 billion in sales and led a significant merchandising transformation initiative. His various leadership positions at Walmart also included Executive Vice President, Food, and Executive Vice President, General Merchandise. Earlier in his career, he was Chief Marketing Officer for Specialty Brands and held various management positions at PepsiCo, Inc.'s Frito-Lay North America division. He also worked as a management consultant with A.T. Kearney.

M. Scott Lewis, Chief Financial Officer

M. Scott Lewis was appointed Chief Financial Officer of HanesBrands, effective July 11, 2023. He also continues to serve as Chief Accounting Officer, a position he has held since 2015, and previously served as the company's Interim Chief Financial Officer since March 2023.

Joe Cavaliere, President, Innerwear – Global

Joe Cavaliere joined HanesBrands in February 2021 as group president, global innerwear. Before HanesBrands, he was president and general manager of the retail chain division at C&S Wholesale Grocers.

Michael E. Faircloth, President, Global Operations

Michael E. Faircloth has served as President of Hanesbrands Inc. since December 2010. He is also referred to as Group President, Global Operations, American Casualwear and E-commerce.

Scott Pleiman, Chief Strategy, Transformation, Analytics & Technology Officer

Scott Pleiman joined HanesBrands in January 2023, assuming the role of Chief Strategy, Transformation, Analytics & Technology Officer.

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The key risks to Hanesbrands (HBI) involve significant customer concentration, a notable debt burden, and challenges stemming from macroeconomic factors and evolving consumer behavior.

1. Customer Concentration: Hanesbrands faces substantial risk due to its high customer concentration. Approximately 48% of its total revenue is generated from three major retailers: Walmart, Amazon, and Target. This reliance grants significant bargaining power to these large clients, which could potentially lead to renegotiated terms that deteriorate Hanesbrands' future net income growth.

2. High Leverage and Debt Burden: Despite recent efforts to reduce debt, including the sale of its Champion business, Hanesbrands continues to grapple with a significant debt burden. This high leverage poses a risk to the company's financial stability and limits its flexibility to invest in growth initiatives or effectively respond to market challenges. The company is focused on further reducing its net leverage.

3. Macroeconomic Headwinds and Evolving Consumer Demand: Hanesbrands operates in a rapidly changing retail environment susceptible to macroeconomic challenges such as inflation and overall market uncertainties, which can lead to tough consumer demand and shifting preferences. These factors, coupled with intense competition and increased promotional activity, can exert pressure on the company's sales and operating margins. Additionally, the company's international presence exposes it to risks like currency fluctuations, which have created headwinds for sales, and economic instability.

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The apparel industry is experiencing a significant shift, creating clear emerging threats for established players like Hanesbrands.

• Rise of digitally-native, direct-to-consumer (DTC) brands: An increasing number of agile, digitally-native brands are entering the market specializing in basic apparel (underwear, socks, activewear). These companies leverage direct-to-consumer sales channels, advanced digital marketing, and often niche positioning (e.g., sustainability, body inclusivity, specific performance features) to build strong consumer loyalty and capture market share. Brands like Bombas, MeUndies, Parade, and SKIMS, among others, are directly challenging Hanesbrands' traditional retail distribution model and its legacy brands, particularly among younger demographics. This business model disruption parallels the way Netflix challenged Blockbuster by offering a new, more convenient way to access products.
• Intensification of private label and exclusive brands by major retailers: Key retail partners for Hanesbrands, such as Walmart, Target, Amazon, and department stores, are significantly expanding their investments in and promotion of their own private label and exclusive apparel brands. These retailer-owned brands often offer comparable quality at competitive price points, directly competing with Hanesbrands' core offerings within the same retail environments. This trend leads to increased competition for shelf space, potential pricing pressure, and a gradual erosion of market share for branded products like those of Hanesbrands, as retailers prioritize their higher-margin house brands.

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Hanesbrands (HBI) operates in several addressable markets for its main products and services, primarily categorized as innerwear and activewear. The market sizes for these categories are identified as follows:

• Global Activewear Market: The global activewear market size is projected to be USD 412.14 billion in 2025.
• U.S. Activewear Market: The activewear market size in the United States is estimated to be USD 130.07 billion in 2025.
• Global Innerwear Market: The global innerwear market is projected to reach USD 236.62 billion in 2025.
• U.S. Innerwear Market: The U.S. innerwear market generated a revenue of USD 27.97 billion in 2023 and is expected to grow at a CAGR of 5.1% from 2024 to 2030, reaching approximately USD 30.90 billion in 2025.
• Global T-shirts Market: The global T-shirts market is projected to reach USD 195.6 billion by the end of 2025.
• Global Fleece Clothing Market: The global fleece clothing market is projected to reach USD 13.38 billion by the end of 2025.

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Hanesbrands (HBI) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:

1. Consumer-Led Innovation and New Product Launches: Hanesbrands is focusing on introducing innovative products across its major brands to gain market share, particularly among younger consumers. This strategy includes expanding into new categories such as scrubs and loungewear, which have shown significant growth.
2. Strategic Brand Investments and Global Campaigns: The company is increasing its investments in brand marketing and launching global brand campaigns. These efforts are aimed at supporting sustainable profit growth and boosting revenue through incremental holiday programs and enhanced brand visibility.
3. Expansion in E-commerce and International Markets: Hanesbrands' transformation strategy includes capturing growth through its e-commerce channels and expanding its international presence. This involves gaining additional distribution in the Americas and focusing on key growth opportunities in regions like North America, China, Australia, and Europe.
4. Cost Restructuring and Productivity Initiatives: While primarily enhancing margins, ongoing cost restructuring actions and productivity improvement initiatives free up capital that can be reinvested into growth-related areas such as brand building and product development, thereby indirectly supporting revenue expansion.

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Share Repurchases

• In February 2022, Hanesbrands authorized a new three-year $600 million share repurchase plan, replacing a previous program from February 2020.
• Share repurchases were expected to begin in the first quarter of 2022, with the company anticipating quarterly repurchases while maintaining flexibility based on performance and market conditions.

Share Issuance

• The number of shares outstanding for Hanesbrands was 351,094,094 as of February 9, 2024.
• As of February 7, 2025, there were 353,108,892 shares of common stock outstanding.
• The number of shares outstanding increased by 1.19% in the last 12 months as of a recent date.

Outbound Investments

• Hanesbrands has simplified its portfolio by selling its European Innerwear and U.S. Sheer Hosiery businesses.

Capital Expenditures

• Capital expenditures were approximately $150 million to $175 million for fiscal year 2021.
• For fiscal year 2024, capital investments totaled approximately $75 million, including $65 million in capital expenditures and $10 million in cloud computing arrangements.
• Expected capital investments for fiscal year 2025 are approximately $65 million, consisting of $50 million in capital expenditures and $15 million in cloud computing arrangements.
• The primary focus of capital expenditures includes investments in brands, technology, people, and simplifying the business as part of the "Full Potential transformation plan".