Home / Knowledge / News / Apparel/Garments / Carter's reports 22% growth in FY'12 revenues
Carter's reports 22% growth in FY'12 revenues
29
Feb '12
Carter's, Inc., the largest branded marketer in the United States of apparel exclusively for babies and young children, today reported its fourth quarter and fiscal 2011 results.

• Fourth Quarter Net Sales $607 Million, Up 22%
• Fourth Quarter EPS $0.59, Down 2%; Adjusted EPS $0.63, Up 5%
• Fiscal 2011 Net Sales $2.1 Billion, Up 21%
• Fiscal 2011 EPS $1.94, Down 21%; Adjusted EPS $2.09, Down 15%

"In the fourth quarter, we achieved sales growth in every segment of our business, which reflects the strength of our brands and compelling value they provide to consumers," said Michael D. Casey, Chairman and Chief Executive Officer.

"For the year, we achieved a record level of sales by extending the reach of our brands in the United States and international markets. Earnings continue to be impacted by abnormally high cotton prices. We expect to see the benefit of lower cotton prices in the second half of 2012, and we are forecasting good growth in sales and profitability this year."

Fourth Quarter of Fiscal 2011 compared to Fourth Quarter of Fiscal 2010:
Consolidated net sales increased $111.4 million, or 22.5%, to $606.6 million. Net domestic sales of the Company's Carter's brands increased $54.5 million, or 14.1%, to $442.4 million. Net domestic sales of the Company's OshKosh B'gosh brand increased $10.6 million, or 10.6%, to $110.0 million.

Net international sales, which are comprised of sales of Carter's and OshKosh B'gosh branded products to wholesale customers outside the United States and Canadian retail store sales, increased $46.3 million to $54.3 million.

The Company's pre-tax income in the fourth quarter of fiscal 2011 includes expenses related to the acquisition of Bonnie Togs, a Canadian children's apparel retailer, of approximately $3.0 million.

Operating income in the fourth quarter of fiscal 2011 was $55.0 million, a decrease of $3.7 million, or 6.4%, from $58.8 million in the fourth quarter of fiscal 2010.

Excluding the effect of the acquisition-related expenses noted above and detailed at the end of this release, adjusted operating income in the fourth quarter of fiscal 2011 was $58.0 million, a decrease of $0.8 million, or 1.3%, from the fourth quarter of fiscal 2010. The decrease primarily reflects the net effect of higher product costs.

Net income decreased $0.1 million, or 0.3%, to $34.8 million, or $0.59 per diluted share, compared to $34.9 million, or $0.60 per diluted share, in the fourth quarter of fiscal 2010.

Excluding the effect of the acquisition-related expenses noted above and detailed at the end of this release, adjusted net income in the fourth quarter of fiscal 2011 increased $2.5 million, or 6.8%, to $37.3 million, or $0.63 per diluted share from the fourth quarter of fiscal 2010.

Carter's, Inc.

Must ReadView All

Textiles | On 22nd Feb 2017

Bangladesh exporters want duty-free access to US, Brazil

Garment and apparel exporters of Bangladesh are seeking duty-free...

Textiles | On 22nd Feb 2017

India to produce 341 lakh bales cotton in 2016-17: CAI

The Cotton Association of India (CAI) has maintained in its January...

Textiles | On 22nd Feb 2017

'India to be self-sufficient in silk production by 2020'

Indian could be self-sufficient in silk production by the year 2020...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search