Fiscal 2012 compared to Fiscal 2011
Consolidated net sales increased $272.0 million, or 12.9%, to $2.4 billion. Net domestic sales of the Company’s Carter’s brands increased $189.6 million, or 11.8%, to $1.8 billion. Net domestic sales of the Company’s OshKosh B’gosh brand increased $0.3 million, or 0.1%, to $363.1 million. Net international sales increased $82.0 million to $218.3 million. Consolidated net sales in fiscal 2012 include $46.1 million in off-price channel sales, compared to $79.5 million in fiscal 2011.
Operating income in fiscal 2012 was $262.0 million, an increase of $74.5 million, or 39.8%, from $187.5 million in fiscal 2011. Fiscal 2012 pre-tax income includes expenses totaling approximately $13.1 million related to costs associated with the previously-announced office consolidation, the revaluation of contingent consideration associated with the acquisition of Bonnie Togs, and the previously-announced closure of the Company's Hogansville, Georgia distribution center.
Fiscal 2011 pre-tax income included approximately $12.2 million of expenses related to the Bonnie Togs acquisition. Excluding the facility consolidation and closure-related costs and the acquisition-related expenses noted above in both 2012 and 2011, adjusted operating income in fiscal 2012 was $275.1 million, an increase of $75.4 million, or 37.8%, from fiscal 2011.
Net income in fiscal 2012 increased $47.1 million, or 41.3%, to $161.2 million, or $2.69 per diluted share, compared to $114.0 million, or $1.94 per diluted share, in fiscal 2011. Excluding the facility consolidation and closure-related costs and the acquisition-related expenses noted above, adjusted net income in fiscal 2012 increased $47.5 million, or 38.5%, to $170.7 million, or $2.85 per diluted share.
This compares to adjusted net income of $123.2 million, or $2.09 per diluted share, in fiscal 2011. “We achieved a record level of sales and earnings in our fourth quarter and fiscal year 2012. Our results reflect the strength of our product offerings, our focus on extending the reach of our brands, and the effectiveness of our growth initiatives,” said Michael D. Casey, Chairman and Chief Executive Officer. “We are forecasting good growth in sales and earnings in 2013, and are planning a higher level of investments to support our growth strategies in the United States and international markets.”
Fourth Quarter of Fiscal 2012 compared to Fourth Quarter of Fiscal 2011
Consolidated net sales increased $82.6 million, or 13.6%, to $689.3 million. Net domestic sales of the Company’s Carter’s brands increased $74.6 million, or 16.9%, to $517.0 million. Net domestic sales of the Company’s OshKosh B’gosh brand decreased $2.6 million, or 2.3%, to $107.4 million. Net international sales increased $10.6 million, or 19.5%, to $64.9 million.
Textiles | On 16th Jan 2017
Textiles should be at the heart of Taiwan’s thinking while developing ...
Apparel/Garments | On 16th Jan 2017
In a bid to trace source of wood based fabrics like viscose and rayon ...
Very few machinery manufacturers have R&D units
Indo Count Retail Ventures
Today, there is no other emerging market as India, "we make in India and...
Key Textile Accessories Private Limited
Chinese imports are destroying the supply chain
Voith Paper GmbH & Co. KG
The glass mat industry is growing by five to eight per cent annually. Kai...
InvestKonsult Sweden AB
Investkonsult Sweden AB has been buying and selling second-hand textile...
Swerea IVF AB
Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...
Gildan Activewear SRL
Gildan Activewear, a manufacturer and marketer of branded clothing and...
Rupa Sood and Sharan Apparao
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...
Bani Batra’s couture wedding collection is inspired by traditional Indian...
Apparel/Garments | On 16th Jan 2017