Hanesbrands Inc. HBI is set to report first-quarter 2016 results on Apr 21, after the market closes. Last quarter, the company posted a negative earnings surprise of 4.35%. In the trailing four quarters, the company delivered in-line results in two quarters and a positive surprise in another, with an average beat of 1.69%.Let's see how things are shaping up for this announcement.Factors to ConsiderWe note that Hanesbrands has been posting decent results for the past few quarters backed by strategic acquisitions and the success of the Innovate-to-Elevate strategy. The high-margin products that the strategy focuses on should favor first-quarter margins as well.Strong sales growth in most of its segments, especially the Activewear and International segments should give a boost to the company’s top line. Further, acquisitions such as Knights Apparel and DBApparel are driving sales for the sports apparel company.The company is also consistent with its innovations that help it to maintain market share and a loyal customer base. Hanesbrands’ strong e-Commerce business, products and strategic buyouts help it to keep the top line at decent levels.However, currency has been hurting revenues over the past few quarters and the trend is likely to persist in the first quarter as well. Moreover, inconsistent traffic at its stores, in particular in the mass and mid-tier channels, and soft consumer spending trends are expected to weigh on revenues for the first quarter.Earnings WhispersOur proven model does not conclusively show that Hanesbrands is likely to beat on earnings this quarter. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass earnings estimate. However, that is not the case here as you will see below:Zacks ESP: Both the Most Accurate estimate and the Zacks Consensus Estimate stand at 22 cents. Hence, the difference is 0.00%.Zacks Rank: Hanesbrands carries a Zacks Rank #3 (Hold). Although a favorable Zacks Rank increases the predictive power of ESP, the company’s 0.00% ESP makes surprise prediction difficult.We caution against stocks with a Zacks Rank #4 or 5 (Sell rated) going into the earnings announcement, especially when the company is seeing negative estimate revisions.Stocks to ConsiderHere are some companies in the broader consumer discretionary space that have the right combination of elements to post an earnings beat this quarter:Duluth Holdings Inc. DLTH, with an Earnings ESP of +14.29% and a Zacks Rank #3.Ralph Lauren Corporation RL, with an Earnings ESP of +6.02% and a Zacks Rank #3.Michael Kors Holdings LImited KORS, with an Earnings ESP of +1.03% and a Zacks Rank #3.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report RALPH LAUREN CP (RL): Free Stock Analysis Report HANESBRANDS INC (HBI): Free Stock Analysis Report MICHAEL KORS (KORS): Free Stock Analysis Report DULUTH HOLDINGS (DLTH): Free Stock Analysis Report To read this article on Zacks.com click here.