Document

In the second quarter of 2024, the Company reached the decision to exit the U.S.-based outlet store business and the global Champion business, excluding the Champion Japan business, and began to separately report the results of the global Champion and U.S.-based outlet store businesses as discontinued operations. In December 2024, the Company finalized plans to exit the Champion Japan business. The Company determined that the exit of the global Champion business, U.S.-based outlet store business and the Champion Japan business represent multiple components of a single strategic plan that met held-for-sale and discontinued operations accounting criteria prior to the period ending December 28, 2024. The historical financial information included herein for 2022, 2023 and 2024 has been revised to present the results of the Champion Japan business as discontinued operations along with the global Champion and U.S.-based outlet store businesses for all periods presented.


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Financial Tables

Table 1-A - Condensed Consolidated Statements of Operations, As REPORTED						3

Table 1-B - Condensed Consolidated Statements of Operations - Continuing Operations, As ADJUSTED						4

Table 2-A - Reconciliation of Select GAAP Measures to Non-GAAP Measures - Continuing Operations						5

Table 2-B - Reconciliation of Select GAAP Measures to Non-GAAP Measures - Discontinued Operations (Global Champion and U.S.-Based Outlet Store Businesses, including the Champion Japan business)						11

Table 3 - Supplemental Financial Information by Business Segment - Continuing Operations						12

Table 4-A - Impact of Foreign Currency - Continuing Operations (2024 only)						13

Table 4-B - Organic Constant Currency - Continuing Operations (2024 only)						15


	Year Ended			Quarters Ended												Year Ended			Quarters Ended												Year Ended
	Dec. 31, 2022			Apr. 1, 2023			Jul. 1, 2023			Sep. 30, 2023			Dec. 30, 2023			Dec. 30, 2023			Mar. 30, 2024			Jun. 29, 2024			Sep. 28, 2024			Dec. 28, 2024			Dec. 28, 2024
Net sales	$	3,862,809		$	849,314		$	1,013,176		$	926,613		$	850,283		$	3,639,386		$	744,675		$	973,927		$	900,367		$	888,469		$	3,507,438
Cost of sales	2,515,774			580,930			666,168			591,708			508,690			2,347,496			447,242			675,584			526,890			498,198			2,147,914
Gross profit	1,347,035			268,384			347,008			334,905			341,593			1,291,890			297,433			298,343			373,477			390,271			1,359,524
As a % of net sales	34.9		%	31.6		%	34.2		%	36.1		%	40.2		%	35.5		%	39.9		%	30.6		%	41.5		%	43.9		%	38.8		%
Selling, general and administrative expenses	1,079,664			243,848			277,220			257,390			247,154			1,025,612			262,019			361,546			279,440			270,571			1,173,576
As a % of net sales	28.0		%	28.7		%	27.4		%	27.8		%	29.1		%	28.2		%	35.2		%	37.1		%	31.0		%	30.5		%	33.5		%
Operating profit (loss)	267,371			24,536			69,788			77,515			94,439			266,278			35,414			(63,203)			94,037			119,700			185,948
As a % of net sales	6.9		%	2.9		%	6.9		%	8.4		%	11.1		%	7.3		%	4.8		%	(6.5)		%	10.4		%	13.5		%	5.3		%
Other expenses	8,294			14,709			7,046			8,911			7,095			37,761			9,062			10,616			9,343			18,420			47,441
Interest expense, net	131,733			45,209			58,679			56,614			53,685			214,187			50,583			50,279			48,542			46,497			195,901
Income (loss) from continuing operations before income taxes	127,344			(35,382)			4,063			11,990			33,659			14,330			(24,231)			(124,098)			36,152			54,783			(57,394)
Income tax expense (benefit)	447,889			16,180			12,826			21,280			(65,104)			(14,818)			8,571			11,485			11,430			9,115			40,601
Income (loss) from continuing operations	(320,545)			(51,562)			(8,763)			(9,290)			98,763			29,148			(32,802)			(135,583)			24,722			45,668			(97,995)
Income (loss) from discontinued operations, net of tax	193,341			17,158			(13,701)			(29,509)			(20,822)			(46,874)			(6,320)			(162,797)			5,229			(58,548)			(222,436)
Net income (loss)	$	(127,204)		$	(34,404)		$	(22,464)		$	(38,799)		$	77,941		$	(17,726)		$	(39,122)		$	(298,380)		$	29,951		$	(12,880)		$	(320,431)

Earnings (loss) per share - basic:
Continuing operations	$	(0.92)		$	(0.15)		$	(0.03)		$	(0.03)		$	0.28		$	0.08		$	(0.09)		$	(0.39)		$	0.07		$	0.13		$	(0.28)
Discontinued operations	0.55			0.05			(0.04)			(0.08)			(0.06)			(0.13)			(0.02)			(0.46)			0.01			(0.17)			(0.63)
Net income (loss)	$	(0.36)		$	(0.10)		$	(0.06)		$	(0.11)		$	0.22		$	(0.05)		$	(0.11)		$	(0.85)		$	0.09		$	(0.04)		$	(0.91)

Earnings (loss) per share - diluted:
Continuing operations	$	(0.92)		$	(0.15)		$	(0.03)		$	(0.03)		$	0.28		$	0.08		$	(0.09)		$	(0.39)		$	0.07		$	0.13		$	(0.28)
Discontinued operations	0.55			0.05			(0.04)			(0.08)			(0.06)			(0.13)			(0.02)			(0.46)			0.01			(0.16)			(0.63)
Net income (loss)	$	(0.36)		$	(0.10)		$	(0.06)		$	(0.11)		$	0.22		$	(0.05)		$	(0.11)		$	(0.85)		$	0.08		$	(0.04)		$	(0.91)

Weighted average shares outstanding:
Basic	349,970			350,435			350,501			350,667			350,765			350,592			351,576			351,990			352,107			352,881			352,139
Diluted	349,970			350,435			350,501			350,667			351,566			351,057			351,576			351,990			354,839			356,851			352,139


	Year Ended			Quarters Ended												Year Ended			Quarters Ended												Year Ended
	Dec. 31, 2022			Apr. 1, 2023			Jul. 1, 2023			Sep. 30, 2023			Dec. 30, 2023			Dec. 30, 2023			Mar. 30, 2024			Jun. 29, 2024			Sep. 28, 2024			Dec. 28, 2024			Dec. 28, 2024
Net sales	$	3,862,809		$	849,314		$	1,013,176		$	926,613		$	850,283		$	3,639,386		$	744,675		$	973,927		$	900,367		$	888,469		$	3,507,438
Cost of sales, as adjusted	2,502,129			579,414			665,932			590,179			509,818			2,345,343			447,039			586,963			525,773			496,960			2,056,735
Gross profit, as adjusted	1,360,680			269,900			347,244			336,434			340,465			1,294,043			297,636			386,964			374,594			391,509			1,450,703
As a % of net sales	35.2		%	31.8		%	34.3		%	36.3		%	40.0		%	35.6		%	40.0		%	39.7		%	41.6		%	44.1		%	41.4		%
Selling, general and administrative expenses, as adjusted	1,038,667			242,355			260,761			256,209			245,641			1,004,966			247,253			261,133			261,612			265,534			1,035,532
As a % of net sales	26.9		%	28.5		%	25.7		%	27.7		%	28.9		%	27.6		%	33.2		%	26.8		%	29.1		%	29.9		%	29.5		%
Operating profit, as adjusted	322,013			27,545			86,483			80,225			94,824			289,077			50,383			125,831			112,982			125,975			415,171
As a % of net sales	8.3		%	3.2		%	8.5		%	8.7		%	11.2		%	7.9		%	6.8		%	12.9		%	12.5		%	14.2		%	11.8		%
Other expenses, as adjusted	8,294			6,359			7,046			8,911			7,095			29,411			9,062			10,616			9,343			9,008			38,029
Interest expense, net, as adjusted	131,733			46,463			58,679			56,614			53,685			215,441			50,583			50,279			48,542			46,497			195,901
Income (loss) from continuing operations before income taxes, as adjusted	181,986			(25,277)			20,758			14,700			34,044			44,225			(9,262)			64,936			55,097			70,470			181,241
Income tax expense, as adjusted	34,123			16,180			12,826			25,543			15,755			70,304			8,571			11,485			11,430			9,115			40,601
Income (loss) from continuing operations, as adjusted	$	147,863		$	(41,457)		$	7,932		$	(10,843)		$	18,289		$	(26,079)		$	(17,833)		$	53,451		$	43,667		$	61,355		$	140,640

Earnings (loss) per share - basic:
Continuing operations, as adjusted	$	0.42		$	(0.12)		$	0.02		$	(0.03)		$	0.05		$	(0.07)		$	(0.05)		$	0.15		$	0.12		$	0.17		$	0.40

Earnings (loss) per share - diluted:
Continuing operations, as adjusted	$	0.42		$	(0.12)		$	0.02		$	(0.03)		$	0.05		$	(0.07)		$	(0.05)		$	0.15		$	0.12		$	0.17		$	0.40

Weighted average shares outstanding:
Basic	349,970			350,435			350,501			350,667			350,765			350,592			351,576			351,990			352,107			352,881			352,139
Diluted	350,606			350,435			350,631			350,667			351,566			350,592			351,576			352,665			354,839			356,851			354,184


The following tables present a reconciliation of the results of continuing operations as reported under GAAP to the results of continuing operations as adjusted for full year 2022 and by quarter for 2023 and 2024. The results of continuing operations exclude the results of the global Champion business, U.S.-based outlet store business and the Champion Japan business, which have been reclassified to discontinued operations for all periods presented. The Company has chosen to present the following non-GAAP measures to investors to enable additional analyses of past, present and future operating performance and as a supplemental means of evaluating continuing operations absent the effect of restructuring and other actions that are deemed to be material stand-alone initiatives apart from the Company’s core operations. While these costs are not expected to continue for any singular transaction on an ongoing basis, similar types of costs, expenses and charges have occurred in prior periods and may recur in future periods depending upon future business plans and circumstances. Restructuring and other action-related charges in 2022, 2023 and 2024 include the following:




Supply chain restructuring and consolidation			In 2024, represents charges as a result of the sale of the global Champion business, which was completed in the fourth quarter of 2024 on September 30, 2024, and the completed exit of the U.S.-based outlet store business in July 2024 related to significant restructuring and consolidation efforts within the Company’s supply chain network, both manufacturing and distribution, to align the Company’s network to its continuing operations to drive stronger operating performance and margin expansion. In 2023 and 2022, represents charges related to supply chain segmentation to restructure and position the Company’s distribution and manufacturing network to align with its demand trends, simplify operations and improve efficiencies.
Corporate asset impairment charges			Primarily represents charges related to a contract terminated in the second quarter of 2024 and impairment of the Company’s headquarters location that was classified as held for sale in the second quarter of 2024.
Headcount actions and related severance			Represents charges related to operating model initiatives primarily headcount actions and related severance charges and adjustments related to restructuring activities.
Professional services			Represents professional fees, primarily including consulting and advisory services, related to restructuring activities.
Technology			Represents technology charges related to the implementation of the Company’s technology modernization initiative which includes a global enterprise resource planning platform.
Gain/loss on sale of business and classification of assets held for sale			Represents the gain/loss associated with the sale of the Company’s U.S. Sheer Hosiery business and adjustments to the related valuation allowance prior to the sale on September 29, 2023, primarily from the changes in carrying value due to changes in working capital.
Loss on extinguishment of debt			Represents charges for the write-off of unamortized debt issuance costs related to the requirement to pay down a portion of the Company’s outstanding term debt under the Senior Secured Credit Facility with the net proceeds from the sale of the global Champion business in the fourth quarter of 2024 and charges related to the redemption of the Company’s 4.625% Senior Notes and 3.5% Senior Notes in the first quarter of 2023.
Gain on final settlement of cross currency swap contracts			Primarily represents the remaining gain related to cross-currency swap contracts previously designated as cash flow hedges in accumulated other comprehensive loss which was released into earnings as the Company unwound the cross-currency swap contracts in connection with the redemption of the 3.5% Senior Notes at the time of settlement in the first quarter of 2023.
Discrete tax benefit			In 2023, represents an adjustment to non-cash reserves established at December 31, 2022 related to deferred taxes established for Swiss statutory impairments, which are not indicative of the Company’s core business operations. In 2022, represents non-cash reserves established relating to deferred taxes.
Tax effect on actions			Represents the applicable effective tax rate on the restructuring and other action-related charges based on the jurisdiction of where the charges were incurred.


	Year Ended			Quarters Ended												Year Ended			Quarters Ended												Year Ended
	Dec. 31, 2022			Apr. 1, 2023			Jul. 1, 2023			Sep. 30, 2023			Dec. 30, 2023			Dec. 30, 2023			Mar. 30, 2024			Jun. 29, 2024			Sep. 28, 2024			Dec. 28, 2024			Dec. 28, 2024
Gross profit, as reported under GAAP	$	1,347,035		$	268,384		$	347,008		$	334,905		$	341,593		$	1,291,890		$	297,433		$	298,343		$	373,477		$	390,271		$	1,359,524
As a % of net sales	34.9		%	31.6		%	34.2		%	36.1		%	40.2		%	35.5		%	39.9		%	30.6		%	41.5		%	43.9		%	38.8		%
Restructuring and other action-related charges:
Supply chain restructuring and consolidation	14,345			1,516			236			660			(1,284)			1,128			167			78,226			1,117			1,238			80,748
Corporate asset impairment charges	—			—			—			—			—			—			—			10,395			—			—			10,395
Headcount actions and related severance	(712)			—			—			869			156			1,025			36			—			—			—			36
Other	12			—			—			—			—			—			—			—			—			—			—
Gross profit, as adjusted	$	1,360,680		$	269,900		$	347,244		$	336,434		$	340,465		$	1,294,043		$	297,636		$	386,964		$	374,594		$	391,509		$	1,450,703
As a % of net sales	35.2		%	31.8		%	34.3		%	36.3		%	40.0		%	35.6		%	40.0		%	39.7		%	41.6		%	44.1		%	41.4		%


	Year Ended			Quarters Ended												Year Ended			Quarters Ended												Year Ended
	Dec. 31, 2022			Apr. 1, 2023			Jul. 1, 2023			Sep. 30, 2023			Dec. 30, 2023			Dec. 30, 2023			Mar. 30, 2024			Jun. 29, 2024			Sep. 28, 2024			Dec. 28, 2024			Dec. 28, 2024
Selling, general and administrative expenses, as reported under GAAP	$	1,079,664		$	243,848		$	277,220		$	257,390		$	247,154		$	1,025,612		$	262,019		$	361,546		$	279,440		$	270,571		$	1,173,576
As a % of net sales	28.0		%	28.7		%	27.4		%	27.8		%	29.1		%	28.2		%	35.2		%	37.1		%	31.0		%	30.5		%	33.5		%
Restructuring and other action-related charges:
Supply chain restructuring and consolidation	—			—			—			—			—			—			(1,940)			(78,581)			(9,593)			(667)			(90,781)
Corporate asset impairment charges	—			—			—			—			—			—			—			(9,712)			—			—			(9,712)
Headcount actions and related severance	(7,687)			871			(2,760)			(1,662)			(573)			(4,124)			(12,151)			(6,911)			1,245			860			(16,957)
Professional services	(23,994)			(40)			(3,608)			(165)			(6)			(3,819)			(490)			(3,544)			(7,843)			(4,611)			(16,488)
Technology	(11,922)			(4,221)			(2,881)			(588)			(657)			(8,347)			(181)			(218)			(428)			(1,032)			(1,859)
Gain (loss) on sale of business and classification of assets held for sale	3,535			2,139			(7,338)			1,558			—			(3,641)			—			—			—			—			—
Other	(929)			(242)			128			(324)			(277)			(715)			(4)			(1,447)			(1,209)			413			(2,247)
Selling, general and administrative expenses, as adjusted	$	1,038,667		$	242,355		$	260,761		$	256,209		$	245,641		$	1,004,966		$	247,253		$	261,133		$	261,612		$	265,534		$	1,035,532
As a % of net sales	26.9		%	28.5		%	25.7		%	27.7		%	28.9		%	27.6		%	33.2		%	26.8		%	29.1		%	29.9		%	29.5		%


	Year Ended			Quarters Ended												Year Ended			Quarters Ended												Year Ended
	Dec. 31, 2022			Apr. 1, 2023			Jul. 1, 2023			Sep. 30, 2023			Dec. 30, 2023			Dec. 30, 2023			Mar. 30, 2024			Jun. 29, 2024			Sep. 28, 2024			Dec. 28, 2024			Dec. 28, 2024
Operating profit (loss), as reported under GAAP	$	267,371		$	24,536		$	69,788		$	77,515		$	94,439		$	266,278		$	35,414		$	(63,203)		$	94,037		$	119,700		$	185,948
As a % of net sales	6.9		%	2.9		%	6.9		%	8.4		%	11.1		%	7.3		%	4.8		%	(6.5)		%	10.4		%	13.5		%	5.3		%
Restructuring and other action-related charges:
Supply chain restructuring and consolidation	14,345			1,516			236			660			(1,284)			1,128			2,107			156,807			10,710			1,905			171,529
Corporate asset impairment charges	—			—			—			—			—			—			—			20,107			—			—			20,107
Headcount actions and related severance	6,975			(871)			2,760			2,531			729			5,149			12,187			6,911			(1,245)			(860)			16,993
Professional services	23,994			40			3,608			165			6			3,819			490			3,544			7,843			4,611			16,488
Technology	11,922			4,221			2,881			588			657			8,347			181			218			428			1,032			1,859
(Gain) loss on sale of business and classification of assets held for sale	(3,535)			(2,139)			7,338			(1,558)			—			3,641			—			—			—			—			—
Other	941			242			(128)			324			277			715			4			1,447			1,209			(413)			2,247
Operating profit, as adjusted	$	322,013		$	27,545		$	86,483		$	80,225		$	94,824		$	289,077		$	50,383		$	125,831		$	112,982		$	125,975		$	415,171
As a % of net sales	8.3		%	3.2		%	8.5		%	8.7		%	11.2		%	7.9		%	6.8		%	12.9		%	12.5		%	14.2		%	11.8		%


	Year Ended		Quarters Ended								Year Ended		Quarters Ended								Year Ended
	Dec. 31, 2022		Apr. 1, 2023		Jul. 1, 2023		Sep. 30, 2023		Dec. 30, 2023		Dec. 30, 2023		Mar. 30, 2024		Jun. 29, 2024		Sep. 28, 2024		Dec. 28, 2024		Dec. 28, 2024
Interest expense, net and other expenses, as reported under GAAP	$	140,027	$	59,918	$	65,725	$	65,525	$	60,780	$	251,948	$	59,645	$	60,895	$	57,885	$	64,917	$	243,342
Restructuring and other action-related charges:
Loss on extinguishment of debt	—		(8,466)		—		—		—		(8,466)		—		—		—		(9,412)		(9,412)
Gain on final settlement of cross currency swaps	—		1,370		—		—		—		1,370		—		—		—		—		—
Interest expense, net and other expenses, as adjusted	$	140,027	$	52,822	$	65,725	$	65,525	$	60,780	$	244,852	$	59,645	$	60,895	$	57,885	$	55,505	$	233,930


	Year Ended		Quarters Ended								Year Ended		Quarters Ended								Year Ended
	Dec. 31, 2022		Apr. 1, 2023		Jul. 1, 2023		Sep. 30, 2023		Dec. 30, 2023		Dec. 30, 2023		Mar. 30, 2024		Jun. 29, 2024		Sep. 28, 2024		Dec. 28, 2024		Dec. 28, 2024
Income (loss) from continuing operations before income taxes, as reported under GAAP	$	127,344	$	(35,382)	$	4,063	$	11,990	$	33,659	$	14,330	$	(24,231)	$	(124,098)	$	36,152	$	54,783	$	(57,394)
Restructuring and other action-related charges:
Supply chain restructuring and consolidation	14,345		1,516		236		660		(1,284)		1,128		2,107		156,807		10,710		1,905		171,529
Corporate asset impairment charges	—		—		—		—		—		—		—		20,107		—		—		20,107
Headcount actions and related severance	6,975		(871)		2,760		2,531		729		5,149		12,187		6,911		(1,245)		(860)		16,993
Professional services	23,994		40		3,608		165		6		3,819		490		3,544		7,843		4,611		16,488
Technology	11,922		4,221		2,881		588		657		8,347		181		218		428		1,032		1,859
(Gain) loss on sale of business and classification of assets held for sale	(3,535)		(2,139)		7,338		(1,558)		—		3,641		—		—		—		—		—
Other	941		242		(128)		324		277		715		4		1,447		1,209		(413)		2,247
Loss on extinguishment of debt	—		8,466		—		—		—		8,466		—		—		—		9,412		9,412
Gain on final settlement of cross currency swaps	—		(1,370)		—		—		—		(1,370)		—		—		—		—		—
Income (loss) from continuing operations before income taxes, as adjusted	$	181,986	$	(25,277)	$	20,758	$	14,700	$	34,044	$	44,225	$	(9,262)	$	64,936	$	55,097	$	70,470	$	181,241


	Year Ended		Quarters Ended								Year Ended		Quarters Ended								Year Ended
	Dec. 31, 2022		Apr. 1, 2023		Jul. 1, 2023		Sep. 30, 2023		Dec. 30, 2023		Dec. 30, 2023		Mar. 30, 2024		Jun. 29, 2024		Sep. 28, 2024		Dec. 28, 2024		Dec. 28, 2024
Income tax expense (benefit), as reported under GAAP	$	447,889	$	16,180	$	12,826	$	21,280	$	(65,104)	$	(14,818)	$	8,571	$	11,485	$	11,430	$	9,115	$	40,601
Restructuring and other action-related charges:
Discrete tax (expense) benefit	(422,918)		—		—		4,263		80,859		85,122		—		—		—		—		—
Tax effect on actions	9,152		—		—		—		—		—		—		—		—		—		—
Total included in income tax (expense) benefit	(413,766)		—		—		4,263		80,859		85,122		—		—		—		—		—
Income tax expense, as adjusted	$	34,123	$	16,180	$	12,826	$	25,543	$	15,755	$	70,304	$	8,571	$	11,485	$	11,430	$	9,115	$	40,601


	Year Ended		Quarters Ended								Year Ended		Quarters Ended								Year Ended
	Dec. 31, 2022		Apr. 1, 2023		Jul. 1, 2023		Sep. 30, 2023		Dec. 30, 2023		Dec. 30, 2023		Mar. 30, 2024		Jun. 29, 2024		Sep. 28, 2024		Dec. 28, 2024		Dec. 28, 2024
Income (loss) from continuing operations, as reported under GAAP	$	(320,545)	$	(51,562)	$	(8,763)	$	(9,290)	$	98,763	$	29,148	$	(32,802)	$	(135,583)	$	24,722	$	45,668	$	(97,995)
Restructuring and other action-related charges:
Supply chain restructuring and consolidation	14,345		1,516		236		660		(1,284)		1,128		2,107		156,807		10,710		1,905		171,529
Corporate asset impairment charges	—		—		—		—		—		—		—		20,107		—		—		20,107
Headcount actions and related severance	6,975		(871)		2,760		2,531		729		5,149		12,187		6,911		(1,245)		(860)		16,993
Professional services	23,994		40		3,608		165		6		3,819		490		3,544		7,843		4,611		16,488
Technology	11,922		4,221		2,881		588		657		8,347		181		218		428		1,032		1,859
(Gain) loss on sale of business and classification of assets held for sale	(3,535)		(2,139)		7,338		(1,558)		—		3,641		—		—		—		—		—
Other	941		242		(128)		324		277		715		4		1,447		1,209		(413)		2,247
Loss on extinguishment of debt	—		8,466		—		—		—		8,466		—		—		—		9,412		9,412
Gain on final settlement of cross currency swaps	—		(1,370)		—		—		—		(1,370)		—		—		—		—		—
Discrete tax expense (benefit)	422,918		—		—		(4,263)		(80,859)		(85,122)		—		—		—		—		—
Tax effect on actions	(9,152)		—		—		—		—		—		—		—		—		—		—
Income (loss) from continuing operations, as adjusted	$	147,863	$	(41,457)	$	7,932	$	(10,843)	$	18,289	$	(26,079)	$	(17,833)	$	53,451	$	43,667	$	61,355	$	140,640


	Year Ended1		Quarters Ended1								Year Ended1		Quarters Ended1								Year Ended1
	Dec. 31, 2022		Apr. 1, 2023		Jul. 1, 2023		Sep. 30, 2023		Dec. 30, 2023		Dec. 30, 2023		Mar. 30, 2024		Jun. 29, 2024		Sep. 28, 2024		Dec. 28, 2024		Dec. 28, 2024
Diluted earnings (loss) per share from continuing operations, as reported under GAAP	$	(0.92)	$	(0.15)	$	(0.03)	$	(0.03)	$	0.28	$	0.08	$	(0.09)	$	(0.39)	$	0.07	$	0.13	$	(0.28)
Restructuring and other action-related charges:
Supply chain restructuring and consolidation	0.04		0.00		0.00		0.00		0.00		0.00		0.01		0.44		0.03		0.01		0.48
Corporate asset impairment charges	—		—		—		—		—		—		—		0.06		—		—		0.06
Headcount actions and related severance	0.02		0.00		0.01		0.01		0.00		0.01		0.03		0.02		0.00		0.00		0.05
Professional services	0.07		0.00		0.01		0.00		0.00		0.01		0.00		0.01		0.02		0.01		0.05
Technology	0.03		0.01		0.01		0.00		0.00		0.02		0.00		0.00		0.00		0.00		0.01
(Gain) loss on sale of business and classification of assets held for sale	(0.01)		(0.01)		0.02		0.00		—		0.01		—		—		—		—		—
Other	0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.00		0.01
Loss on extinguishment of debt	—		0.02		—		—		—		0.02		—		—		—		0.03		0.03
Gain on final settlement of cross currency swaps	—		0.00		—		—		—		0.00		—		—		—		—		—
Discrete tax benefit	1.21		—		—		(0.01)		(0.23)		(0.24)		—		—		—		—		—
Tax effect on actions	(0.03)		—		—		—		—		—		—		—		—		—		—
Diluted earnings (loss) per share from continuing operations, as adjusted	$	0.42	$	(0.12)	$	0.02	$	(0.03)	$	0.05	$	(0.07)	$	(0.05)	$	0.15	$	0.12	$	0.17	$	0.40


	Year Ended		Quarters Ended								Year Ended		Quarters Ended								Year Ended
	Dec. 31, 2022		Apr. 1, 2023		Jul. 1, 2023		Sep. 30, 2023		Dec. 30, 2023		Dec. 30, 2023		Mar. 30, 2024		Jun. 29, 2024		Sep. 28, 2024		Dec. 28, 2024		Dec. 28, 2024
Net sales	$	2,370,841	$	540,096	$	425,804	$	584,693	$	446,544	$	1,997,137	$	411,526	$	380,000	$	480,272	$	132,479	$	1,404,277

Operating profit (loss), as reported under GAAP	$	252,174	$	32,783	$	(384)	$	(11,553)	$	1,658	$	22,504	$	16,692	$	(145,261)	$	29,250	$	(67,313)	$	(166,632)
Restructuring and other action-related charges	5,216		3,112		1,366		74,361		14,266		93,105		16,752		152,426		28,210		54,367		251,755
Operating profit (loss), as adjusted	$	257,390	$	35,895	$	982	$	62,808	$	15,924	$	115,609	$	33,444	$	7,165	$	57,460	$	(12,946)	$	85,123

Income (loss) from discontinued operations, net of tax, as reported under GAAP	$	189,376	$	17,158	$	(13,701)	$	(29,509)	$	(20,822)	$	(46,874)	$	(6,320)	$	(162,797)	$	5,229	$	(58,548)	$	(222,436)
Restructuring and other action-related charges	5,216		3,112		1,366		74,361		14,266		93,105		16,752		152,426		28,210		54,367		251,755
Tax effect on actions	—		—		—		—		—		—		—		—		(2,267)		2,267		—
Income (loss) from discontinued operations, net of tax, as adjusted	$	194,592	$	20,270	$	(12,335)	$	44,852	$	(6,556)	$	46,231	$	10,432	$	(10,371)	$	31,172	$	(1,914)	$	29,319

Diluted earnings (loss) per share from discontinued operations, as reported under GAAP1	$	0.54	$	0.05	$	(0.04)	$	(0.08)	$	(0.06)	$	(0.13)	$	(0.02)	$	(0.46)	$	0.01	$	(0.17)	$	(0.63)
Restructuring and other action-related charges1	0.01		0.01		$	0.00	0.21		0.04		0.27		0.05		0.43		0.07		0.16		0.71
Diluted earnings (loss) per share from discontinued operations, as adjusted1	$	0.56	$	0.06	$	(0.04)	$	0.13	$	(0.02)	$	0.13	$	0.03	$	(0.03)	$	0.09	$	(0.01)	$	0.08

Weighted average shares outstanding:
Basic	349,970		350,435		350,501		350,667		350,765		350,592		351,576		351,990		352,107		352,881		352,139
Diluted	350,606		350,827		350,501		351,204		350,765		351,057		352,381		351,990		354,839		352,881		354,184


	Year Ended		Quarters Ended								Year Ended		Quarters Ended								Year Ended
	Dec. 31, 2022		Apr. 1, 2023		Jul. 1, 2023		Sep. 30, 2023		Dec. 30, 2023		Dec. 30, 2023		Mar. 30, 2024		Jun. 29, 2024		Sep. 28, 2024		Dec. 28, 2024		Dec. 28, 2024
Segment net sales:
U.S.	$	2,692,175	$	599,884	$	751,049	$	684,990	$	600,733	$	2,636,656	$	543,891	$	740,154	$	678,345	$	618,747	$	2,581,137
International	1,010,541		221,623		242,578		221,103		247,763		933,067		200,011		233,073		222,410		252,939		908,433
Total segment net sales	3,702,716		821,507		993,627		906,093		848,496		3,569,723		743,902		973,227		900,755		871,686		3,489,570
Other net sales	160,093		27,807		19,549		20,520		1,787		69,663		773		700		(388)		16,783		17,868
Total net sales	$	3,862,809	$	849,314	$	1,013,176	$	926,613	$	850,283	$	3,639,386	$	744,675	$	973,927	$	900,367	$	888,469	$	3,507,438

Segment operating profit:
U.S.	$	402,697	$	66,607	$	125,154	$	105,579	$	106,933	$	404,273	$	98,263	$	158,214	$	149,637	$	142,738	$	548,852
International	144,373		21,533		21,551		21,050		44,699		108,833		16,801		30,237		27,704		31,764		106,506
Total segment operating profit	547,070		88,140		146,705		126,629		151,632		513,106		115,064		188,451		177,341		174,502		655,358
Other profit (loss)	21,774		1,509		(1,721)		342		(1,319)		(1,189)		681		(130)		(1,989)		3,988		2,550
General corporate expenses	(228,782)		(58,061)		(53,262)		(41,915)		(50,781)		(204,019)		(60,692)		(58,212)		(58,449)		(48,642)		(225,995)
Amortization of intangibles	(18,049)		(4,043)		(5,239)		(4,831)		(4,708)		(18,821)		(4,670)		(4,278)		(3,921)		(3,873)		(16,742)
Total operating profit before restructuring and other action-related charges	322,013		27,545		86,483		80,225		94,824		289,077		50,383		125,831		112,982		125,975		415,171
Restructuring and other action-related charges	(54,642)		(3,009)		(16,695)		(2,710)		(385)		(22,799)		(14,969)		(189,034)		(18,945)		(6,275)		(229,223)
Total operating profit (loss)	$	267,371	$	24,536	$	69,788	$	77,515	$	94,439	$	266,278	$	35,414	$	(63,203)	$	94,037	$	119,700	$	185,948


	Quarter Ended March 30, 2024
	As Reported		Impact from Foreign Currency1		Constant Currency		Quarter Ended April 1, 2023		% Change, As Reported		% Change, Constant Currency
As reported under GAAP:
Net sales	$	744,675	$	(11,369)	$	756,044	$	849,314	(12.3)	%	(11.0)	%
Gross profit	297,433		(7,710)		305,143		268,384		10.8		13.7
Operating profit	35,414		(2,862)		38,276		24,536		44.3		56.0
Diluted loss per share from continuing operations3	$	(0.09)	$	(0.09)	$	(0.01)	$	(0.15)	(40.0)	%	(93.3)	%

As adjusted:2
Net sales	$	744,675	$	(11,369)	$	756,044	$	849,314	(12.3)	%	(11.0)	%
Gross profit	297,636		(7,710)		305,346		269,900		10.3		13.1
Operating profit	50,383		(2,862)		53,245		27,545		82.9		93.3
Diluted loss per share from continuing operations3	$	(0.05)	$	(0.04)	$	(0.01)	$	(0.12)	(58.3)	%	(91.7)	%


	Quarter Ended June 29, 2024
	As Reported		Impact from Foreign Currency1		Constant Currency		Quarter Ended July 1, 2023		% Change, As Reported		% Change, Constant Currency
As reported under GAAP:
Net sales	$	973,927	$	(12,270)	$	986,197	$	1,013,176	(3.9)	%	(2.7)	%
Gross profit	298,343		(7,771)		306,114		347,008		(14.0)		(11.8)
Operating profit	(63,203)		(3,451)		(59,752)		69,788		(190.6)		(185.6)
Diluted loss per share from continuing operations3	$	(0.39)	$	(0.38)	$	(0.01)	$	(0.03)	1,200.0	%	(66.7)	%

As adjusted:2
Net sales	$	973,927	$	(12,270)	$	986,197	$	1,013,176	(3.9)	%	(2.7)	%
Gross profit	386,964		(7,771)		394,735		347,244		11.4		13.7
Operating profit	125,831		(3,451)		129,282		86,483		45.5		49.5
Diluted earnings (loss) per share from continuing operations3	$	0.15	$	0.16	$	(0.01)	$	0.02	650.0	%	(150.0)	%


	Quarter Ended September 28, 2024
	As Reported		Impact from Foreign Currency1		Constant Currency		Quarter Ended September 30, 2023		% Change, As Reported		% Change, Constant Currency
As reported under GAAP:
Net sales	$	900,367	$	(6,652)	$	907,019	$	926,613	(2.8)	%	(2.1)	%
Gross profit	373,477		(1,299)		374,776		334,905		11.5		11.9
Operating profit	94,037		(206)		94,243		77,515		21.3		21.6
Diluted earnings (loss) per share from continuing operations3	$	0.07	$	0.07	$	0.00	$	(0.03)	(333.3)	%	(100.0)	%

As adjusted:2
Net sales	$	900,367	$	(6,652)	$	907,019	$	926,613	(2.8)	%	(2.1)	%
Gross profit	374,594		(1,299)		375,893		336,434		11.3		11.7
Operating profit	112,982		(206)		113,188		80,225		40.8		41.1
Diluted earnings (loss) per share from continuing operations3	$	0.12	$	0.12	$	0.00	$	(0.03)	(500.0)	%	(100.0)	%


The following table presents a reconciliation of reported results from continuing operations on a constant currency basis for the quarters ended March 30, 2024, June 29, 2024, September 28, 2024 and comparisons to prior years:


1			Effect of the change in foreign currency exchange rates year-over-year. Calculated by applying prior period exchange rates to the current year financial results.
2			Results reflect adjustments for restructuring and other action-related charges. See "Reconciliation of Select GAAP Measures to Non-GAAP Measures" in Table 2-A.
3			Amounts may not be additive due to rounding.


	Quarter Ended March 30, 2024								Quarter Ended April 1, 2023
	As Reported		Impact from Foreign Currency1		Less Other Sales2		Organic Constant Currency		As Reported		Less Other Sales2		Organic		% Change, As Reported		% Change, Organic Constant Currency
Net sales	$	744,675	$	(11,369)	$	773	$	755,271	$	849,314	$	27,807	$	821,507	(12.3)	%	(8.1)	%


	Quarter Ended June 29, 2024								Quarter Ended July 1, 2023
	As Reported		Impact from Foreign Currency1		Less Other Sales2		Organic Constant Currency		As Reported		Less Other Sales2		Organic		% Change, As Reported		% Change, Organic Constant Currency
Net sales	$	973,927	$	(12,270)	$	700	$	985,497	$	1,013,176	$	19,549	$	993,627	(3.9)	%	(0.8)	%


	Quarter Ended September 28, 2024								Quarter Ended September 30, 2023
	As Reported		Impact from Foreign Currency1		Less Other Sales2		Organic Constant Currency		As Reported		Less Other Sales2		Organic		% Change, As Reported		% Change, Organic Constant Currency
Net sales	$	900,367	$	(6,652)	$	(388)	$	907,407	$	926,613	$	20,520	$	906,093	(2.8)	%	0.1	%


1			Effect of the change in foreign currency exchange rates year-over-year. Calculated by applying prior period exchange rates to the current year financial results.
2			Other sales consist of the Company’s U.S. Sheer Hosiery business (prior to the September 29, 2023 sale) as well as certain sales from the Company’s supply chain and short term support/transition services agreements for disposed businesses.