American basic apparel company Hanesbrands Inc (NYSE:HBI) released positive results from its first quarter financial earnings report.

Net sales for the company grew by 7% to USD $1.47 billion, which is significantly higher than the range of $1.42 billion to $1.44 billion that the company predicted.

Hanesbrands retail sales grew by 23%, while online sales increased 20% over every geography that Hanesbrands is available.

Sales also increased by 6% within the company’s activewear brand Champion.

According to the company, its Champion, Alternative and, the recently acquired Bras N Things brands benefitted “from a strong millennial consumer base.”

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Gerald W. Evans Jr., the company’s Chief Executive Officer, has said that Hanesbrands is off to a good start in 2018 and continue to “[reap] ongoing benefits from diversifying [the company’s] business through geographic expansion, Champion brand growth globally, and increased sales in the online channel.”

Net sales for the second quarter are predicted to be between $1.7 billion to $1.725 billion, while the company predicts that net sales for the full year of 2018 will reach between $6.72 billion to $6.82 billion.

Evans has also said that Hanesbrands is “focused on delivering quarterly results consistent with the promises [the company] [makes] in [its] guidance.”

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The company is keeping a cautious perspective in regards to its retail businesses and the negative brick-and-mortar consumer environment of the US.

Although the Hanesbrands posted positive financial earnings for the first quarter of 2018 and reached a high of $19.10, the company’s share value still feel by nearly 5% on Tuesday.

After closing on Monday at a value of $18.47, the company has already dropped to be around $17.50.

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