Champion achieves strong double-digit growth for nine consecutive quarters
On October 31st, the Champion brand parent company, American lingerie and sportswear manufacturer Hanes Brands announced key financial data for the third quarter of FY 2019, and the Champion brand's global sales increased by 25% (excluding traditional US mass market channels). ), achieving strong double-digit growth for nine consecutive quarters. The company hopes that the full fiscal year will reach the expected median.
Underwear: Net sales fell 3.5% year-on-year to US$576 million, and operating profit fell 8% year-on-year, mainly due to retail trends that were weaker than expected and the negative impact of retailer bankruptcy.
Sportswear: Net sales fell 1% year-on-year to US$548 million, and operating profit increased 4% year-on-year, mainly benefiting from Champion (excluding traditional US mass market channels) brand sportswear growth
Excluding the traditional US mass market channel, Champion's global sales increased by 25% year-on-year, and increased by 26% year-on-year according to the constant exchange rate, of which sportswear sales increased by 18% year-on-year;
Champion's traditional mass market channel business in the US “C9 by Champion” performed better than expected;
In sectors other than Champion, sales declined, mainly due to the group's exit from commodity-centric businesses, focusing on increasing the impact of profit margins;
International business: Net sales increased by 7% year-on-year to US$664 million, an increase of 11% year-on-year based on constant exchange rates. Operating profit increased by 8% year-on-year, and increased by 10% year-on-year according to constant exchange rate. Operating profit margin was 16.2%; underwear and sportswear products showed an increasing trend in Australia, Germany, the United Kingdom, Mexico, Canada and other markets;