Shares of Travelport Worldwide Ltd (NYSE:TVPT) ended Friday session in red amid volatile trading. The shares closed down -0.25 points or -1.75% at $14.02 with 2.89 million shares getting traded. Post opening the session at $14.29, the shares hit an intraday low of $13.80 and an intraday high of $14.33 and the price vacillated in this range throughout the day. The company has a market cap of $1.74 billion and the numbers of outstanding shares have been calculated to be 123.92 million shares.
On September 15, 2016 IndiGo, India’s largest domestic airline and one of the world’s fastest growing low cost carriers, and Travelport (TVPT), a leading Travel Commerce Platform, have announced a strategic partnership which will see IndiGo distribute all of its fares and ancillary products to Travelport-connected customers worldwide. This is the first time that IndiGo has struck a deal with a global GDS, and the choice of Travelport as its distribution partner reflects the value the airline sees in Travelport’s Travel Commerce Platform. The platform offers fully integrated, industry leading merchandising capabilities and is used extensively by travel agencies in India as well as other key target markets for IndiGo.
IndiGo, which commenced operations in 2006 with a single aircraft, now operates a fleet of 112 aircraft including the new Airbus A320 Neos with 424 more on order. Its approach has been to offer “low fares, on-time flights and a hassle-free experience”.
Through the strategic partnership with Travelport, IndiGo will place its fares, ancillary products and offers into the Travel Commerce Platform. This distribution platform, unique to Travelport, will enable IndiGo to provide its content via an API connection, rather than the more traditional fare filing methods often favoured by network carriers, and still have their fares and ancillaries displayed, compared and booked in exactly the same way. In addition, the airline will also use Travelport’s leading merchandising capabilities to bring IndiGo’s brand proposition to life for travellers arriving into India and then seeking domestic flights within the country. The distribution partnership will also help the airline reach travellers in international markets as it continues to expand its route network into destinations in the Indian Subcontinent, the Middle East and South East Asia.
Commenting on the partnership, Aditya Ghosh, President & Whole Time Director, IndiGo said: “This arrangement with Travelport will allow us to reach new customers, both at home and overseas, in a cost effective manner without incurring the traditional costs associated with participating in global distribution platforms using old style industry mechanisms and instead, enabling our real time connectivity to the GDS platform via an XML API link.”
Shares of Hanesbrands Inc. (NYSE:HBI) ended Friday session in green amid volatile trading. The shares closed up +0.01 points or 0.04% at $26.12 with 2.84 million shares getting traded. Post opening the session at $25.98, the shares hit an intraday low of $25.92 and an intraday high of $26.16 and the price vacillated in this range throughout the day. The company has a market cap of $9.68 billion and the numbers of outstanding shares have been calculated to be 377.80 million shares.
Hanesbrands Inc. (HBI) on August 3, 2016 announced second-quarter financial results and reaffirmed its full-year 2016 financial guidance for net sales, net cash from operations, and other key performance metrics.
Consistent with the company’s expectations, net sales decreased 3 percent to $1.47 billion for the quarter ended July 2, 2016, as a result of comparisons with strong performance in the year-ago quarter that included expanded shelf space for product launches.
On a GAAP basis, operating profit of $221 million increased 59 percent and earnings per diluted share of $0.34 increased 48 percent. When excluding pretax charges related to acquisitions, integrations and other actions, and debt refinancing, adjusted operating profit of $246 million decreased 7 percent, and adjusted EPS of $0.51 increased 2 percent.
The second-quarter and year-to-date results are in line with the company’s plans and consistent with the underlying assumptions for the company’s full-year 2016 guidance. The company has updated 2016 GAAP guidance for operating profit and EPS and has reaffirmed 2016 guidance for net sales, adjusted operating profit, adjusted EPS, and net cash from operations. The company’s 2016 guidance calls for net sales of $6.15 billion to $6.25 billion, GAAP operating profit of $760 million to $795 million, adjusted operating profit of $940 million to $975 million, GAAP EPS of $1.44 to $1.54, adjusted EPS of $1.89 to $1.95, and net cash from operations of $750 million to $850 million.
“We are confident in our plans for the year, with our sales, operating profit and EPS performance all tracking right in line with our expectations and consistent with our full-year guidance,” said Hanes Chief Operating Officer and CEO-Elect Gerald W. Evans Jr. “The second quarter, while having a tough comparison as expected to a strong year-ago quarter, came in on plan overall. Our growth initiatives for the second half are unfolding as planned and are tracking to our full-year guidance of 8 percent growth in net sales at the midpoint and double-digit growth in EPS.”