Joseph Cavaliere on consumer demand
From Having the inventory to meet consumer demand is still a challenge, says Hanesbrands CEO · · CNBC Television
“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.”
On , Joseph Cavaliere, Group President of Global Innerwear at HANESBRANDS INC, spoke about consumer demand during Having the inventory to meet consumer demand is still a challenge, says Hanesbrands CEO on CNBC Television.
About Joseph Cavaliere
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.