Carter's (NYSE: CRI) reported Q1 EPS of $0.97, $0.13 better than the analyst estimate of $0.84. Revenue for the quarter came in at $732.8 million versus the consensus estimate of $713.94 million.

2017 Business Outlook

For fiscal 2017, the Company projects net sales to increase approximately 4% to 6% over fiscal 2016 and adjusted earnings per diluted share to increase approximately 8% to 10% compared to adjusted earnings per diluted share of $5.14 in fiscal 2016. This forecast for fiscal 2017 adjusted earnings per diluted share excludes anticipated expenses of approximately $3.0 million related to the Skip Hop acquisition, and approximately $0.5 million related to the Company's direct sourcing initiative, which includes severance and relocation costs.

For the second quarter of fiscal 2017, the Company projects net sales to increase approximately 6% to 8% compared to the second quarter of fiscal 2016 and adjusted earnings per diluted share to be approximately $0.65 to $0.70 compared to adjusted earnings per diluted share of $0.72 in the second quarter of fiscal 2016. This projection contemplates net sales growth in all segments and increased spending to support the Company’s long-term growth strategies compared to the prior-year period. The forecast for second quarter fiscal 2017 adjusted earnings per diluted share excludes anticipated expenses of approximately $1.0 million related to the Skip Hop acquisition, and approximately $0.2 million related to the Company's direct sourcing initiative.

The Company believes non-GAAP measurements, including adjusted earnings per diluted share, provide investors with a meaningful view of the Company’s core operating results, and are the same measurements used by the Company's executive management to assess the Company's performance.

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