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This excerpt taken from the HBI 10-Q filed May 11, 2009. International
Overall net sales in the International segment were lower by
$21 million or 21% in the first quarter of 2009 compared to
the first quarter of 2008 driven by an unfavorable impact of
$11 million related to foreign currency exchange rates and
weak demand globally in difficult economic environments similar
to that in the United States. The unfavorable impact of foreign
currency exchange rates was primarily due to the strengthening
of the U.S. dollar compared to the Canadian dollar, Mexican
peso, Brazilian real and Euro. During the first quarter of 2009,
we experienced lower net sales, in each case excluding the
impact of foreign currency, in our casualwear business in Europe
of $5 million and in our intimate apparel business in
Canada of $3 million.
The International segment gross profit was lower by
$9 million in the first quarter of 2009 compared to the
first quarter of 2008. The lower gross profit is as a result of
an unfavorable impact related to foreign currency exchange rates
of $5 million, lower sales volume of $4 million and an
unfavorable product sales mix of $2 million. These higher
costs were partially offset by higher product pricing of
$2 million before increased sales incentives.
As a percent of segment net sales, gross profit in the
International segment was 42.9% in the first quarter of 2009
compared to the first quarter of 2008 at 42.6%, declining as a
result of the items described above.
The lower International segment operating profit in the first
quarter of 2009 compared to the first quarter of 2008 is
primarily attributable to the lower gross profit partially
offset by lower distribution expenses of $1 million and
lower spending of $3 million in numerous areas. Changes in
foreign currency exchange rates, which are included in the
impact on gross profit above, had an unfavorable impact on
segment operating profit of $2 million in the first quarter
of 2009 compared to the first quarter of 2008.
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This excerpt taken from the HBI 10-Q filed Oct 31, 2008. International
Overall lower net sales from our Other segment were primarily
due to the continued vertical integration of a yarn and fabric
operation acquisition from 2006 with less focus on sales of
nonfinished fabric and yarn to third parties. We expect this
decline to continue during the remainder of this year and sales
of this segment to ultimately become insignificant to us. Net
sales in this segment are generated for the purpose of
maintaining asset utilization at certain manufacturing
facilities and generating break even margins.
This excerpt taken from the HBI 10-Q filed Aug 1, 2008. International
Overall net sales in the International segment were higher by
$36 million or 18% in the six months of 2008 compared to
2007. During the six months of 2008, we experienced higher net
sales, in each case including the impact of foreign currency, in
Europe of $15 million, Canada of $9 million, Asia of
$7 million and Latin America of $7 million. The growth
in our European casualwear business was driven by the strength
of the Stedman brand that is sold in the embellishment
channel. Changes in foreign currency exchange rates had a
favorable impact on net sales of $23 million in the six
months of 2008 compared to 2007. The favorable impact was
primarily due to the strengthening of the Euro, Canadian dollar,
Japanese yen and Brazilian real.
As a percent of segment net sales, gross profit percentage was
41.3% in the six months of 2008 compared to 2007 at 42.0%. While
the gross profit percentage was lower, gross profit dollars were
higher for the six months of 2008 compared to 2007 as a result
of higher sales and favorable exchange rates. The higher gross
profit was primarily attributable to a favorable impact related
to foreign currency exchange rates of $10 million and a
favorable product sales mix of $4 million.
The higher International segment operating profit in the six
months of 2008 compared to 2007 is primarily attributable to the
higher gross profit partially offset by higher distribution
expenses of $2 million and $2 million of slightly
higher spending in numerous areas. Changes in foreign currency
exchange rates, which are included in the impact on gross profit
above, had a favorable impact on segment operating profit of
$4 million in the six months of 2008 compared to 2007.
This excerpt taken from the HBI 10-Q filed May 7, 2008. International
Overall net sales in the International segment were higher by
$14 million or 15.3% in the first quarter of 2008 compared
to 2007. During the first quarter of 2008 we experienced higher
net sales, in each case including the impact of foreign
currency, in Europe of $5 million, Canada of
$5 million and Latin America of $3 million. The growth
in our European casualwear business was driven by the strength
of the Stedman brand that is sold in the embellishment
channel. Changes in foreign currency exchange rates had a
favorable impact on net sales of $11 million in the first
quarter of 2008 compared to 2007. The favorable foreign currency
exchange rate impact was primarily due to the strengthening of
the Canadian dollar, Euro, Japanese yen and Brazilian real.
As a percent of segment net sales, gross profit percentage was
42.6% in the first quarter of 2008 compared to 40.9% in 2007.
The higher gross profit was primarily attributable to a
favorable impact related to foreign currency exchange rates of
$5 million and a favorable product sales mix of
$4 million.
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The higher International segment operating profit in the first
quarter of 2008 compared to 2007 is primarily attributable to
the higher gross profit from higher sales volume. Changes in
foreign currency exchange rates, which are included in the
impact on gross profit above, had a favorable impact on segment
operating profit of $2 million in the first quarter of 2008
compared to 2007.
These excerpts taken from the HBI 10-K filed Feb 19, 2008. International
Net sales in the International segment decreased primarily as a
result of $4 million in lower sales in Latin America which
were mainly the result of a $13 million impact from our
exit of certain low-margin product lines. Changes in foreign
currency exchange rates increased net sales by $10 million.
Gross profit percentage increased from 39.1% in 2005 to 40.6% in
2006. The increase is due to lower allocated selling, general
and administrative expenses and margin improvements in sales in
Canada resulting from greater purchasing power for contracted
goods.
The increase in International segment operating profit is
primarily attributable to a $7 million impact of
improvements in gross profit in Canada.
International
Net sales in the International segment decreased primarily as a result of $4 million in lower sales in Latin America which were mainly the result of a $13 million impact from our exit of certain low-margin product lines. Changes in foreign currency exchange rates increased net sales by $10 million. Gross profit percentage increased from 39.1% in 2005 to 40.6% in 2006. The increase is due to lower allocated selling, general and administrative expenses and margin improvements in sales in Canada resulting from greater purchasing power for contracted goods. The increase in International segment operating profit is primarily attributable to a $7 million impact of improvements in gross profit in Canada. This excerpt taken from the HBI 10-Q filed Nov 5, 2007. International
Overall net sales in the International segment were higher in
the nine month period in 2007 compared to the same nine month
period in 2006. During the nine month period in 2007 we
experienced higher net sales in Europe of $14 million and
higher net sales of $2 million in our emerging markets in
Asia which were partially offset by lower sales in Canada of
$9 million. The growth in our European casualwear business
was primarily driven by the strength of the Stedman and
Hanes brands that are sold in the screen print channel.
Changes in foreign currency exchange rates had a favorable
impact on net sales of $7 million in the nine month period
in 2007 compared to the same nine month period in 2006.
As a percent of segment net sales, gross profit percentage was
41.1% in the nine month period in 2007 and the same nine month
period in 2006.
The higher International segment operating profit in the nine
month period in 2007 compared to the same nine month period in
2006 is primarily attributable to the higher gross profit from
higher sales volume. Changes in foreign currency exchange rates
had a favorable impact on segment operating profit of
$1 million in the nine month period in 2007 compared to the
same nine month period in 2006.
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This excerpt taken from the HBI 10-Q filed Aug 3, 2007. International
Overall net sales in the International segment were slightly
lower in the six month period in 2007 compared to the same six
month period in 2006. During the six month period in 2007 we
experienced higher net sales in Europe of $4 million and
higher net sales of $4 million in our emerging markets in
Asia which were more than offset by lower sales in Canada of
$11 million. Changes in foreign currency exchange rates had
an unfavorable impact on net sales of $8 million in the six
month period in 2007 compared to the same six month period in
2006.
As a percent of segment net sales, gross profit percentage was
42.0% in the six month period in 2007 compared to the same six
month period in 2006 at 41.3%. The slight improvement in gross
profit was primarily attributable to headcount savings from
prior year restructuring actions.
The higher International segment operating profit in the six
month period in 2007 compared to the same six month period in
2006 is primarily attributable to the improvement in gross
profit and lower media, advertising and promotion expenses of
$2 million. Changes in foreign currency exchange rates had
an unfavorable impact on segment operating profit of
$1 million in the six month period in 2007 compared to the
same six month period in 2006.
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This excerpt taken from the HBI 10-Q filed May 14, 2007. International
Overall net sales in the International segment decreased
slightly in the first quarter of 2007 compared to the same
quarter of 2006. During the first quarter of 2007 we experienced
higher sales of t-shirts in Europe of $3 million and higher
sales of $2 million in our emerging markets in Asia offset
primarily by softer sales in Canada of $6 million. Changes
in foreign currency exchange rates increased net sales by
$1 million in the first quarter of 2007 compared to the
same quarter in 2006.
As a percent of segment net sales, gross profit percentage was
flat at 40.9% in the first quarter in 2007 compared to the same
quarter in 2006 at 40.8%. Gross profit was flat on slightly
lower sales offset by headcount savings from prior year
restructuring actions and other lower expenses.
The slight decrease in International segment operating profit in
the first quarter of 2007 compared to the same quarter in 2006
is primarily attributable to a higher allocation of selling,
general and administrative expenses. Our consolidated selling,
general and administrative expenses before segment allocations
increased in the first quarter of 2007 as compared to the same
quarter in 2006 primarily due to higher technology consulting
expenses, higher distribution expenses, higher stand alone
company expenses offset by the elimination of allocations from
Sara Lee and lower media, advertising and promotion expenses.
This excerpt taken from the HBI 8-K filed Nov 29, 2006. International
Net sales in the international segment decreased primarily as a
result of a $19 million decrease in sales from Latin
America and Asia, partially offset by an $11 million impact
from changes in foreign currency exchange rates during fiscal
2005. Net sales were adversely affected year over year by a
$6 million impact of the 53rd week in fiscal 2004.
Gross profit percentage increased from 36.4% in fiscal 2004 to
39.1% in
fiscal 2005. The increase resulted primarily from margin
improvements in Canada and Latin America, partially offset by
declines in Asia.
The decrease in international segment operating profit is
attributable primarily to the decrease in net sales and higher
allocated media advertising and promotion expenditures and SG&A
expenses in fiscal 2005 as
compared to fiscal 2004. These effects were offset in part by
the improvement in gross profit and $3 million from changes
in foreign currency exchange rates. International segment operating
profit also was affected adversely year over year by a
$2 million impact of the 53rd week in fiscal 2004.
Other
Net
sales increased due to higher sales of yarn and other materials to National
Textiles LLC. Gross profit and segment operating profit remained flat
as compared to fiscal 2004. As sales of this segment
are generated for the purpose of maintaining asset utilization at certain
manufacturing facilities, gross profit and operating profit are lower
than those of our other segments.
This excerpt taken from the HBI 10-Q filed Nov 13, 2006. International
Net sales in the international segment increased slightly due to
higher sales of t-shirts in Europe and higher sales in our new
markets in China and India, partially offset by lower sales in
Canada and Japan due to a shift in timing of promotional
activity and the launch of fall seasonal products. Changes in
foreign currency exchange rates increased net sales by
$1.3 million.
Gross profit percentage increased from 39.9% for the quarter
ended October 1, 2005 to 41.0% for the quarter ended
September 30, 2006. The increase resulted primarily from
margin improvements due to a
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$3 million decrease in charges for slow-moving and obsolete
inventories primarily in Latin America and $1 million from
positive changes in foreign currency exchange rates. These
changes are partially offset by a $3 million impact from
unfavorable manufacturing efficiencies.
The slight increase in international segment operating profit is
primarily attributable to the improvement in gross margin
partially offset by higher allocation of selling, general and
administrative costs of $1 million.
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