Carter's, Inc. the largest branded marketer in the United States of apparel exclusively for babies and young children, reported its third quarter 2009 results.
“Our third quarter results were exceptional and better than we expected in nearly every component of our business,” said Michael D. Casey, Chairman and Chief Executive Officer. “Our performance reflects the strength of our brands in the marketplace and the compelling value that our products provide to consumers. We've also made good progress improving our brand presentation, inventory management disciplines, and cost structure this past year. We believe we're well positioned to continue to grow our sales and earnings in 2010.”
The financial results for the first nine months of fiscal 2009 presented in this release include restated results for the six-month period ended July 4, 2009. The financial results for the third quarter and first nine months of fiscal 2008 presented in this release have also been restated. The restated results and related adjustments are outlined in the Company's filings made today.
• Net sales increased $47 million, +11% • Total retail store sales increased $27 million, +14% • Net income increased $17 million, +52% • Adjusted net income increased $15 million, +45% • Company completes restatement of prior period consolidated financial statements
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