We own or have rights to use the trademarks, service marks and
trade names that we use in conjunction with the operation of our
business. Some of the more important trademarks that we own or
have rights to use that appear in this Quarterly Report on
Form 10-Q
include the Hanes, Champion, C9 by Champion, Playtex, Bali,
L’eggs, Just My Size, barely there, Wonderbra,
Stedman, Outer Banks, Zorba, Rinbros and Duofold
marks, which may be registered in the United States and
other jurisdictions. We do not own any trademark, trade name or
service mark of any other company appearing in this Quarterly
Report on
Form 10-Q.
On
April 27, 2009, Hanesbrands Inc. (“Hanesbrands”) issued a press release announcing its financial results for the first quarter ended April 4, 2009. A copy of the press release is attached as Exhibit 99.1 to this Current
Report on Form 8-K. Exhibit 99.1 is being “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), nor shall Exhibit 99.1 be
deemed incorporated by reference in any filing under the Securities Act of 1933 (the “Securities Act”) or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Exhibit 99.1 contains disclosures about earnings per diluted share excluding actions, operating profit excluding actions, operating profit margin
excluding actions, selling, general and administrative expenses excluding actions, gross profit excluding actions, net income excluding actions and EBITDA, all of which are considered non-GAAP performance measures. Hanesbrands has chosen to provide
these performance measures to investors to enable them to perform additional analyses of past, present and future operating performance and as a supplemental means of evaluating Hanesbrands’ operations. The non-GAAP information should not be
considered a substitute for financial information presented in accordance with GAAP, and may be different from non-GAAP or other pro forma measures used by other companies.
Item 2.05.
Costs Associated with Exit or Disposal Activities
On April 27, 2009, Hanesbrands approved certain actions in furtherance of its efforts to execute its consolidation and globalization cost-reduction strategy. Hanesbrands has approved the closing of a distribution facility in the United
States, which will result in the termination of approximately 240 employees. Operations at the facility are expected to cease by the first quarter of 2010. Hanesbrands also approved the termination of approximately 250 employees in management
functions, the majority of which are located in the United States. As a result of these actions, Hanesbrands expects to recognize gross restructuring and related charges totaling approximately $15 million before income taxes. These charges, which
are primarily cash charges, primarily relate to severance costs and lease termination costs. Substantially all of the charges will be recognized in the second quarter ending July 4, 2009.
Item 7.01.
Regulation FD Disclosure
Exhibit 99.1 to
this Current Report on Form 8-K includes forward-looking financial information that is expected to be discussed on the previously announced conference call with investors and analysts to be held by us at 4:30 p.m., Eastern time, today (April 27,
2009). The call may be accessed on the home page of the Hanesbrands corporate Web site, www.hanesbrands.com. Replays of the call will be available in the investors section of the Hanesbrands corporate Web site and via telephone. The telephone
playback will be available from approximately 7:00 p.m., Eastern time, on April 27, 2009, until midnight, Eastern time, on May 4, 2009. The replay will be available by calling toll-free (800) 642-1687, or by toll call at
(706) 645-9291. The replay pass code is 94466907. Exhibit 99.1 is being “furnished” and shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, nor shall it be deemed incorporated by reference
in any filing under the Securities Act or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
