Stephen Bratspies on strategy
From Hanesbrands Inc Q1 2023 Earnings Call · · AlphaStreet
“We spoke about our expectations the global operating environment would remain challenging in 2023 and the result we would focus on balancing the execution of our long-term growth strategy with driving near-term performance including a return to high 30 gross margins as we exit the year, generating $500 million of operating cash flow and paying down debt.”
On , Stephen Bratspies, Chief Executive Officer & Director at HANESBRANDS INC, spoke about strategy during Hanesbrands Inc Q1 2023 Earnings Call on AlphaStreet.
About Stephen Bratspies
During Hanesbrands’ first quarter 2023 earnings call, Bratspies said the company delivered revenue, operating profit, and earnings per share in line with its outlook. He noted that the company generated positive operating cash flow in the first quarter, a period he described as historically one that uses cash, and that inventory declined sequentially. Bratspies stated the company was making progress on its “full potential” plan, including becoming more data-driven and consumer-centric, and that it expected to return to a high 30 percent gross margin level by the end of the year. He also highlighted the launch of the Hanes Originals line aimed at younger consumers and the conversion of Champion North America onto a new SAP platform. In earlier calls and media appearances, Bratspies discussed challenges including supply chain disruptions, inflation, and shifting consumer demand. He stated that the company faced transportation-related supply chain issues and that inflation costs were beginning to flow through the P&L. He noted that while consumer demand for Hanesbrands products remained strong, the company was taking steps to reduce inventory and align with demand. Bratspies also emphasized the company’s ownership of its manufacturing as a competitive advantage, and said the company was investing in its brands, including Champion, Hanes, Bali, and Maidenform, which he described as historically underinvested.