Group President of Global Innerwear, Hanesbrands
Search every verified Joseph Cavaliere interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. In September 2022, Joseph Cavaliere, Group President of Global Innerwear at Hanesbrands, was referenced in comments by CEO Steve Bratspies regarding the company's performance and challenges. Bratspies stated that the company had a strong first quarter with more demand than supply, and that consumer interest in brands remained strong. He noted that inflation was creating pressure and that the company was taking a wait-and-see approach to how consumers would respond. Bratspies also discussed ongoing supply chain disruptions, saying that container transit times from China to the West Coast had doubled compared to pre-COVID norms, and that ports in Los Angeles still had over 40 ships at anchor. He cited a specific example in the Champion business, where the company missed a $40 million opportunity due to insufficient inventory. Bratspies added that the company was continuing to invest in media, brands, and product innovation as part of its "Full Potential Plan" strategy.
“We had strong first quarter, and was pleased with the results. Underlying that, we had more demand than we could supply. We're still seeing really good consumer interest in the brands, consumer spending has really continued.”
“When you look underneath, consumers are responding to innovations, to brands, responding to people vetting behind that. We expect that demand to continue.”
“There's certainly pressure, the inflation we all know is out there, we kind of have to wait and see to see exactly how the consumer responds.”
“As we look forward, we're seeing a good lineup for back to school, about 18% more inventory back there. We had good solid bookings for the back half, so we're cautiously optimistic about the consumer.”
“One of the key parts of our three-year strategy, which we call our Full Potential Plan, is to invest behind the consumer and invest in the business. We continue to invest in media, spending on our brands, product innovation, so we're leaning in with the consumer and making sure that we're there to meet their needs.”
“The supply chain is definitely still disrupted. An average container from China to the West Coast is about 73 days. That’s what we saw in Q1. Norm after before COVID was 35 days, so it’s 2x.”
“Ports out in L.A., they’re still 40-plus ships out there at anchor or slow steaming their way in. COVID is still disruptive.”
“In our Champion business specifically, we missed 40 million opportunity just because we didn’t have the inventory. That business goes up to a 14% growth in the first quarter, there is more demand than supply, so we’re working through that.”
Steve Bratspies, Hanesbrands CEO, joins 'Squawk on the Street' to discuss the company's quarterly earnings results, how the ...
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