Hanesbrands Inc. provided earnings guidance for the second quarter ending June 29, 2024 and reiterates earnings guidance for the fiscal year 2024 ending December 28, 2024. For the quarter, the company expects net sales of approximately $1.335 billion to $1.375 billion, which includes projected headwinds of approximately $13.5 million from the U.S. Sheer Hosiery divestiture and approximately $25 million from changes in foreign currency exchange rates. At the midpoint, this represents an approximate 6% decrease as compared to prior year on a reported basis and an approximate 3% decrease on an organic constant currency basis. GAAP operating profit of approximately $96 million to $111 million. GAAP earnings per share of approximately $0.02 to $0.06.

For the year, the company expects Net sales of approximately $5.35 billion to $5.47 billion, which includes projected headwinds of approximately $50 million from the U.S. Sheer Hosiery divestiture and approximately $45 million from changes in foreign currency exchange rates. At the midpoint, this represents an approximate 4% decrease as compared to prior year on a reported basis and an approximate 2% decrease on an organic constant currency basis. GAAP operating profit of approximately $430 million to $450 million. GAAP earnings per share of approximately $0.22 to $0.28.