Home / Knowledge / News / Apparel/Garments / Carter's Q2 FY'13 sales hike 9.7%
Carter's Q2 FY'13 sales hike 9.7%
25
Jul '13
Carter’s, Inc. , the largest branded marketer in the United States of apparel exclusively for babies and young children, reported its second quarter fiscal 2013 results.

“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.”

Second Quarter of Fiscal 2013 compared to Second Quarter of Fiscal 2012

Consolidated net sales increased $45.7 million, or 9.7%, to $517.9 million. Net domestic sales of the Company’s Carter’s brands increased $32.3 million, or 8.9%, to $396.1 million. Net domestic sales of the Company’s OshKosh B’gosh brand decreased $3.4 million, or 4.7%, to $67.7 million. Net international sales increased $16.8 million, or 44.9%, to $54.0 million.

Operating income in the second quarter of fiscal 2013 was $32.7 million, a decrease of $1.7 million, or 4.9%, from $34.4 million in the second quarter of fiscal 2012. Second quarter fiscal 2013 pre-tax income includes approximately $12.1 million in costs incurred in connection with the office consolidation, the revaluation of contingent consideration associated with the acquisition of Bonnie Togs in 2011, and amortization of recently acquired trade names, which is detailed later in this release.

Second quarter fiscal 2012 pre-tax income included expenses totaling approximately $1.8 million related to the previously-announced Hogansville, Georgia distribution center closure in 2013 and revaluation of the Bonnie Togs contingent consideration.

The Hogansville facility is expected to close by the end of fiscal 2013. Excluding the facility consolidation and closure-related costs and acquisition-related expenses noted above, adjusted operating income in the second quarter of fiscal 2013 increased $8.6 million, or 23.8%, to $44.9 million. This compares to adjusted operating income of $36.2 million in the second quarter of fiscal 2012.

Net income in the second quarter of fiscal 2013 decreased $1.1 million, or 5.4%, to $19.7 million, or $0.33 per diluted share, compared to $20.8 million, or $0.35 per diluted share, in the second quarter of fiscal 2012.

Excluding the facility consolidation and closure-related costs, and acquisition-related expenses noted above, adjusted net income in the second quarter of fiscal 2013 increased $5.3 million, or 23.8%, to $27.7 million, or $0.46 per diluted share. This compares to adjusted net income of $22.4 million, or $0.37 per diluted share, in the second quarter of fiscal 2012.

Click here to view full result.

CARTER'S, INC.

Must ReadView All

Courtesy: American Apparel

Apparel/Garments | On 25th Feb 2017

Gildan to make some American Apparel products outside US

Gildan Activewear, which recently acquired US fashion brand American...

Courtesy: Kolon Sport

Apparel/Garments | On 25th Feb 2017

Kolon Sport to set up JV with ANTA for Chinese market

Kolon Sport, an outdoor gear and clothing brand of Korea based Kolon...

Designer Karishma Jumani with Niraj Jawanjal, founder and director of IIFW. Courtesy: IIFW

Textiles | On 25th Feb 2017

IIFW to bring together premium lingerie brands

India Intimate fashion Week (IIFW), dedicated to showcasing the...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Robert Brunner
Devereux

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

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