February 08, 2018
A $100 million tax charge resulted in a Q4 loss of $66,650,000 against income of $6,664,000 last year as revenues increased 27% to $970,589,000 from $764,290,000, driven by a 40% jump in international wholesale, a 12% increase in domestic wholesale, and a 26% gain in owned global retail.
The net loss was $7,072 million against income of $84,715,000 for the final quarter of 2017 ended Dec. 31 which included a $95.6 million charge related to the new tax laws as well as other discrete costs of $6.3 million as sales hit a record $776,041,000 compared to $717,450,000, a gain of 8%.
Net income was off slightly to €48.9 million ($57.6 mm) for the final quarter ended Dec. 31 against €47.9 million last year on a 4% improvement in sales to €803.1 million ($979.8 mm) compared to €772.4 million that would have been a 9% gain in constant currency.
Net income was $53,743,000 compared to a loss of $377,659,000 last year for the period ended Dec. 31 with last year’s results including an impairment charge of $449,199,000 while this year’s included a $48,800,000 benefit related to tax reform.
Hanesbrands’ net loss was $384,611,000 against income of $157,112,000 in the final quarter, which included a $457 million non-cash write down of its deferred tax asset, on revenues that expanded 4% to $1,645,175,000 from $1,575,309,000.
Net income surged 58% to C$61,262,000 ($48.2 mm) from C$38,766,000 on 27% higher revenues at C$265,825,000 ($209.1 mm) compared to C$209,051,000 in fiscal Q3 ended Dec. 31, its seasonally most important quarter.
A £48.8 million non-cash write down of its U.S. deferred tax asset precipitated by tax reform resulted in a loss of £29,086,000 ($38.6 million) against profit of £17,533,000 in the fiscal second quarter ended Dec. 31.