Carters, Inc. (CRI) Tops Q2 EPS by 3c
Carters, Inc. (NYSE: CRI) reported Q2 EPS of $0.46, $0.03 better than the analyst estimate of $0.43. Revenue for the quarter came in at $518 million versus the consensus estimate of $520.31 million.
Our second quarter results reflect strong sales growth driven by our Carter's brand retail stores, and our eCommerce and International operations,” said Michael D. Casey, Chairman and Chief Executive Officer. “We've made good progress with our growth initiatives in the first half of this year, which include consolidating our operations in Atlanta, improving our supply chain capabilities, integrating our operations in Japan, and strengthening our information systems. We believe these initiatives will help enable the long term growth we envision for our business. We continue to expect good growth in sales and earnings this year.”
2013 Business Outlook
For the third quarter of fiscal 2013, the Company expects net sales will increase approximately 12% compared to net sales of $669 million in the third quarter of fiscal 2012. The Company expects adjusted diluted earnings per share to increase in the low single digit percentage range compared to adjusted diluted earnings per share of $1.02 in the third quarter of fiscal 2012. This forecast for third quarter fiscal 2013 adjusted earnings per share excludes anticipated expenses of approximately $10 million to $12 million related to the office consolidation, approximately $6 million related to the amortization of acquired tradenames discussed above, approximately $1 million to $2 million for earn-out arrangements related to the acquisition of Bonnie Togs and the previously-announced distribution center closure, or other items the Company believes to be non-representative of underlying business performance.
For fiscal 2013, the Company expects net sales will increase approximately 8% to 10% compared to net sales of $2.4 billion in fiscal 2012. The Company expects adjusted diluted earnings per share to increase approximately 15% to 17% compared to adjusted diluted earnings per share of $2.85 in fiscal 2012. This forecast for fiscal 2013 adjusted diluted earnings per share excludes anticipated expenses of approximately $37 million to $41 million related to the office consolidation, approximately $14 million related to the amortization of acquired tradenames discussed above, approximately $5 million for earn-out arrangements related to the acquisition of Bonnie Togs and the previously-announced distribution center closure, or other items the Company believes to be non-representative of underlying business performance.
For earnings history and earnings-related data on Carters, Inc. (CRI) click here.
Our second quarter results reflect strong sales growth driven by our Carter's brand retail stores, and our eCommerce and International operations,” said Michael D. Casey, Chairman and Chief Executive Officer. “We've made good progress with our growth initiatives in the first half of this year, which include consolidating our operations in Atlanta, improving our supply chain capabilities, integrating our operations in Japan, and strengthening our information systems. We believe these initiatives will help enable the long term growth we envision for our business. We continue to expect good growth in sales and earnings this year.”
2013 Business Outlook
For the third quarter of fiscal 2013, the Company expects net sales will increase approximately 12% compared to net sales of $669 million in the third quarter of fiscal 2012. The Company expects adjusted diluted earnings per share to increase in the low single digit percentage range compared to adjusted diluted earnings per share of $1.02 in the third quarter of fiscal 2012. This forecast for third quarter fiscal 2013 adjusted earnings per share excludes anticipated expenses of approximately $10 million to $12 million related to the office consolidation, approximately $6 million related to the amortization of acquired tradenames discussed above, approximately $1 million to $2 million for earn-out arrangements related to the acquisition of Bonnie Togs and the previously-announced distribution center closure, or other items the Company believes to be non-representative of underlying business performance.
For fiscal 2013, the Company expects net sales will increase approximately 8% to 10% compared to net sales of $2.4 billion in fiscal 2012. The Company expects adjusted diluted earnings per share to increase approximately 15% to 17% compared to adjusted diluted earnings per share of $2.85 in fiscal 2012. This forecast for fiscal 2013 adjusted diluted earnings per share excludes anticipated expenses of approximately $37 million to $41 million related to the office consolidation, approximately $14 million related to the amortization of acquired tradenames discussed above, approximately $5 million for earn-out arrangements related to the acquisition of Bonnie Togs and the previously-announced distribution center closure, or other items the Company believes to be non-representative of underlying business performance.
For earnings history and earnings-related data on Carters, Inc. (CRI) click here.