Home / Knowledge / News / Apparel/Garments / Carter's Q1'FY14 net sales mount 10.3% to $651.6mn
Carter's Q1'FY14 net sales mount 10.3% to $651.6mn
29
Apr '14
Carter’s, Inc., the largest branded marketer in the United States of apparel exclusively for babies and young children, reported its first quarter fiscal 2014 results.
 
Highlights: 
-Net Sales $652 Million, Up 10%
-Total U.S. Direct-to-Consumer Sales: Carter's +11%, OshKosh +15%
-EPS $0.63, Down 8%; Adjusted EPS $0.73, Down 8%
 
First Quarter of Fiscal 2014 compared to First Quarter of Fiscal 2013
Consolidated net sales increased $60.6 million, or 10.3%, to $651.6 million. Net domestic sales of the Company’s Carter’s brands increased $45.3 million, or 9.9%, to $502.0 million. Net domestic sales of the Company’s OshKosh B’gosh brand increased $5.6 million, or 7.6%, to $79.1 million. Net international sales increased $9.7 million, or 15.9%, to $70.5 million. 
 
Changes in foreign currency exchange rates in the first quarter of fiscal 2014 as compared to the first quarter of fiscal 2013 negatively impacted net sales in the first quarter of fiscal 2014 by $4.0 million. The Company's retail operations in Japan, which the Company substantially exited at the end of the first quarter of fiscal 2014, contributed $4.4 million in net sales in the first quarter of fiscal 2014, compared to $3.5 million in the first quarter of fiscal 2013.
 
Operating income in the first quarter of fiscal 2014 decreased $5.4 million, or 8.1%, to $61.5 million, compared to $66.9 million in the first quarter of fiscal 2013.
 
First quarter fiscal 2014 operating income includes net expenses totaling $8.6 million related to the following: the amortization associated with the acquisition of tradenames; the office consolidation; the revaluation of contingent consideration associated with the acquisition of Bonnie Togs in 2011; the Hogansville, Georgia distribution center closure; and the Japan retail operations exit. 
 
First quarter fiscal 2013 operating income included expenses totaling $9.5 million related to the office consolidation, the revaluation of the Bonnie Togs contingent consideration, and the Hogansville distribution center closure.
 
Excluding the net expenses noted above in both periods, adjusted operating income in the first quarter of fiscal 2014 decreased $6.3 million, or 8.3%, to $70.1 million, compared to $76.4 million in the first quarter of fiscal 2013. The decrease in adjusted operating income reflects increased retail, distribution, and information technology spending to support the Company's growth initiatives and higher product costs that were partially offset by improved pricing.
 
Click here to view full results.
 

Carter's Inc


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Giorgio Mantovani
Corman S.p.A

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

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Silvia Venturini Fendi
Fendi s.r.l

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search