Carter's (CRI) Misses Q4 EPS by 27c

Carter's (NYSE: CRI) reported Q4 EPS of $2.46, $0.27 worse than the analyst estimate of $2.73. Revenue for the quarter came in at $990 million versus the consensus estimate of $1.06 billion.

2021 Business Outlook:

For fiscal 2021 (a 52 week fiscal year), the Company projects net sales will increase approximately 5% and adjusted diluted earnings per share will increase approximately 10% compared to adjusted diluted earnings per share of $4.16 in fiscal 2020. This forecast contemplates: 1) lingering effects of the global pandemic and 2) sales and adjusted diluted earnings per share growth to be heavily weighted to the first half of the fiscal year. This forecast excludes approximately $7 million of expenses related to the COVID-19 pandemic, including costs associated with additional protective equipment and cleaning supplies.

For the first quarter of fiscal 2021, the Company projects net sales will be comparable to the first quarter of fiscal 2020 and adjusted diluted earnings per share will be approximately $0.25 compared to adjusted diluted loss per share of $0.81 in the first quarter of fiscal 2020. This forecast: 1) contemplates lingering effects of the global pandemic and the adverse effects of transportation delays resulting in late product receipts and 2) excludes approximately $3 million of expenses related to the COVID-19 pandemic, including costs associated with additional protective equipment and cleaning supplies.

For earnings history and earnings-related data on Carter's (CRI) click here.

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