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Why Hanesbrands’ Q3 2018 Sales Missed Estimates

Victoria Dean
Why Hanesbrands’ Q3 2018 Sales Missed Estimates

Hanesbrands (HBI) reported its third-quarter results on November 1. Third-quarter sales of $1.85 billion missed the consensus estimate of $1.87 billion. However, on a year-over-year basis, overall sales rose 2.7%. An unfavorable foreign exchange movement wiped out $22 million from the overall sales. Organic sales were up over 1%, on a constant-currency basis.