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Apparel, Accessories and Luxury Goods Stocks Q1 Recap: Benchmarking Hanesbrands (NYSE:HBI)


Max Juang /
2024/06/14 4:11 am EDT

Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Hanesbrands (NYSE:HBI) and the best and worst performers in the apparel, accessories and luxury goods industry.

Within apparel and accessories, not only do styles change more frequently today than decades past as fads travel through social media and the internet but consumers are also shifting the way they buy their goods, favoring omnichannel and e-commerce experiences. Some apparel, accessories, and luxury goods companies have made concerted efforts to adapt while those who are slower to move may fall behind.

The 17 apparel, accessories and luxury goods stocks we track reported a mixed Q1; on average, revenues beat analyst consensus estimates by 0.5%. while next quarter's revenue guidance was 2.2% below consensus. Inflation progressed towards the Fed's 2% goal at the end of 2023, leading to strong stock market performance. The start of 2024 has been a bumpier ride, as the market switches between optimism and pessimism around rate cuts due to mixed inflation data, and apparel, accessories and luxury goods stocks have held roughly steady amidst all this, with share prices up 3.8% on average since the previous earnings results.

Hanesbrands (NYSE:HBI)

A classic American staple founded in 1901, Hanesbrands (NYSE: HBI) is a clothing company known for its array of basic apparel including innerwear and activewear.

Hanesbrands reported revenues of $1.16 billion, down 16.8% year on year, falling short of analysts' expectations by 1.6%. It was a solid quarter for the company, with an impressive beat of analysts' earnings estimates and optimistic earnings guidance for the full year.

Hanesbrands Total Revenue

Hanesbrands delivered the slowest revenue growth of the whole group. The stock is up 9.2% since the results and currently trades at $4.86.

Is now the time to buy Hanesbrands? Access our full analysis of the earnings results here, it's free.

Best Q1: Figs (NYSE:FIGS)

Rising to fame via TikTok and founded in 2013 by Heather Hasson and Trina Spear, Figs (NYSE:FIGS) is a healthcare apparel company known for its stylish approach to medical attire and uniforms.

Figs reported revenues of $119.3 million, down 0.8% year on year, outperforming analysts' expectations by 1.6%. It was a very strong quarter for the company, with an impressive beat of analysts' earnings and operating margin estimates.

Figs Total Revenue

The stock is down 11% since the results and currently trades at $5.01.

Is now the time to buy Figs? Access our full analysis of the earnings results here, it's free.

ThredUp (NASDAQ:TDUP)

Founded to revolutionize thrifting, ThredUp (NASDAQ:TDUP) is a leading online fashion resale marketplace that offers a wide selection of gently-used clothing and accessories.

ThredUp reported revenues of $79.59 million, up 4.8% year on year, falling short of analysts' expectations by 0.9%. It was a weak quarter for the company, with a miss of analysts' earnings estimates.

ThredUp pulled off the fastest revenue growth but had the weakest full-year guidance update in the group. The stock is up 3.7% since the results and currently trades at $1.94.

Read our full analysis of ThredUp's results here.

Guess (NYSE:GES)

Flexing the iconic upside-down triangle logo with a question mark, Guess (NYSE:GES) is a global fashion brand known for its trendy clothing, accessories, and denim wear.

Guess reported revenues of $591.9 million, up 3.9% year on year, surpassing analysts' expectations by 3%. It was a mixed quarter for the company, with a miss of analysts' operating margin estimates.

The stock is down 4.8% since the results and currently trades at $22.26.

Read our full, actionable report on Guess here, it's free.

PVH (NYSE:PVH)

Founded in 1881 by a husband and wife duo, PVH (NYSE:PVH) is a global fashion conglomerate with iconic brands like Calvin Klein and Tommy Hilfiger.

PVH reported revenues of $1.95 billion, down 9.5% year on year, in line with analysts' expectations. It was an ok quarter for the company, with a decent beat of analysts' operating margin estimates but a miss of analysts' Calvin Klein revenue estimates.

The stock is down 4.9% since the results and currently trades at $113.45.

Read our full, actionable report on PVH here, it's free.

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