Hanes revenue increased even though they raise the price of its products

HanesBrands Inc. (NYSE: HBI) has issued the report revenues in Q1 of 2011. Companies that have more than a century is known as a leading apparel provider company announced that their net profit rose 32%. Hanes which is based in Winston-Salem, NC, managed to increase its revenue because they raise the price of its products.

The increase in the price of Hanes’ products is due to the rising prices of cotton commodity from 52 cents to 83 cents, or up approximately 60 percent. HanesBrands Inc. began to raise the prices of its products in February, and it seems the price increase will continue. HBI reported its net income increased from $ 36.5 million in Q1 last year to $ 48.1 million. While the company’s revenue rose 12% to $ 1.04 billion.

HanesBrands Inc. surpassed the expectations of analysts surveyed by FactSet, analysts expect that HBI shares will increasing 33 cents per share. In fact, HBI shares on the NYSE rose about 49 cents per share. In addition, HanesBrands Inc. succeeded in increasing earnings guidance to between $ 2.70 and $ 2.90 per share (previous earnings guidance Hanes at the level of $ 2.60 to $ 2.80.

The increased revenue of HanesBrands Inc. is not being separated from the NCAA basketball championship fanfare. HBI was successful selling college-themed clothes. While sales of clothing for women have decreased, however, the decline was successfully covered with a rise in sales of clothing for men.

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