HanesBrands reaffirms its 2012 guidance
HanesBrands Inc. reaffirmed its 2012 financial guidance Wednesday, and its shares rose in trading.
The clothing company, speaking at the Telsey Advisory Group's 3rd Annual Fall Consumer Conference in Las Vegas, backed its financial outlook based on consumer and retail market trends through mid-September, which includes the back-to-school selling period.
HanesBrands, based in Winston-Salem, N.C., sells underwear, socks, T-shirts and other products under brands such as Hanes, Champion and Playtex.
The company expects to earn $2.50 to $2.60 per share from continuing operations for the year, with revenue between $4.52 billion and $4.57 billion. Analysts polled by FactSet expect the company to earn $2.55 per share on revenue of $4.53 billion.
Shares of HanesBrands increased 77 cents, roughly 2 percent, to $32.80 by early afternoon.