Hanesbrands Sees Higher 2008 Earnings

The maker of Hanes Brand underwear and the Wonderbra warned that economic conditions may hinder some of the potential operating performance improvement.

Analysts polled by Thomson Financial predict 2008 net income of $2 per share.

Hanesbrands maintained its prior forecast for double-digit adjusted earnings growth for the next three to five years. Chief Executive Richard Noll said in a statement that the company may narrow its outlook in a year to a range of 15 percent to 25 percent, but is keeping its current forecast due to the potential for more earnings growth in 2008.

The company said its long-term annual sales goal is for growth between 1 percent and 3 percent, excluding acquisitions.

Hanesbrands does not provide a quarterly or full-year earnings-per-share outlook. The company was spun off by former parent Sara Lee Corp. in 2006.