WASHINGTON (dpa-AFX) - HanesBrands (HBI) announced that Steve Bratspies will depart as CEO at the end of 2025, or upon the appointment of his successor. The Board has begun a comprehensive search to identify the next CEO and has retained Spencer Stuart, an executive search firm, to support its work. Bratspies will stay on in an advisory role once a new CEO is named to support a smooth transition.
Separately, the company reported fourth quarter income from continuing operations of $46 million, or $0.13 per share compared to income from continuing operations of $99 million, or $0.28 per share, last year. Adjusted Income from continuing operations totaled $61 million, or $0.17 per share compared to $18 million, or $0.05 per share, last year. Net sales from continuing operations were $888 million, up 4.5% compared to the prior year. On an organic constant currency basis, net sales increased 3.8% over prior year.
For fiscal 2025, the company expects adjusted earnings per share from continuing operations of approximately $0.51 to $0.55, and net sales from continuing operations of approximately $3.47 billion to $3.52 billion.
For the first quarter, the company expects adjusted earnings per share from continuing operations of approximately $0.02, and net sales from continuing operations of approximately $750 million.
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