"Our business model allowed us to deliver benefits to shareholders, even though our record-high financial results fell short of our expectations as a result of unanticipated fourth-quarter retail weakness," Hanesbrands CEO Gerald W. Evans Jr. said in the earnings release.
"Despite the challenging environment, we were able to manage inventory and generate cash, returning nearly $550 million to shareholders through quarterly cash dividends and share repurchases.
Hanesbrands said for fiscal 2017, it expects earnings per share of $1.93 to $2.03. That range falls short of analyst expectations for about $2.14 a share, according to a Thomson Reuters consensus estimate. Sales projections of $6.45 billion to $6.55 billion also missed the mark, with analysts expecting revenue of $6.68 billion.
With Friday's declines, shares of Hanesbrands are down 37 percent over the past three months.