HanesBrands is making a comeback thanks to an early shift to personal protective gear and a rise in comfortable attire during the pandemic.
“The HanesBrands organization did a phenomenal job overcoming significant challenges in order to mitigate the effects of the global pandemic,” Gerald W. Evans Jr., HanesBrands chief executive officer, said in a statement. “Despite the effects of pandemic-caused disruptions to global economies, our business is in great shape. We performed significantly better than our base-case scenario in both our apparel business and our new protective garment business.
The early efforts paid off. HanesBrands sold $752 million in personal protective garments to governments, large organizations, other businesses and consumers around the world during the quarter. “Relative to future government business, there certainly could be additional opportunities out there and we’ll certainly seek those as the opportunity emerges,” Evans said on the call. “We believe that there’s a permanent consumer behavior change that’s going to last for some time. Our research tells us the consumer is really looking for a trusted brand and innovation and it’s right up our alley and we’re having a good response.
In addition, HanesBrands was able to leverage channels that stayed open during the pandemic, such as mass retail, food and drug stores and Dollar General Stores, which sell Hanes socks and hosiery.
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