BUZZ-HanesBrands falls on quarterly sales miss and weak annual forecasts

Apparel maker HanesBrands' HBI.N shares fall 3.7% to $7.38 premarket

Co posts fourth quarter net sales of $888.4 million, missing analysts' expectations of $950.3 million, according to data compiled by LSEG

Forecasts annual sales between $3.47 billion and $3.52 billion, below estimates of $3.66 billion

Expects annual adjusted earnings per share to be in the range of 51 cents to 55 cents, below analysts' expectations of 57 cents

HanesBrands says CEO Steve Bratspies will depart at the end of 2025, or upon the appointment of his successor

HBI stock rose 82.5% in 2024