Abnormal spike in cotton prices affect Carter's Q1 results
03 May '11
4 min read
OshKosh wholesale sales increased $1.0 million, or 4.8%, to $22.6 million driven by higher sales in the off-price channel.
Second Quarter 2011 Business Outlook
The Company expects net sales for the second quarter of fiscal 2011 to be up approximately 16% to 19%, and diluted earnings per share to be approximately $0.10 to $0.14 compared to $0.32 in the second quarter of last year.
Supply Chain Leadership Transition
As part of a planned succession process, the Company announced that Christopher W. Rork will join the Company as Executive Vice President of Supply Chain effective May 9, 2011. Mr. Rork joins the Company from Levi Strauss & Co. where he has worked since 2007, most recently as Senior Vice President, Supply Chain Asia based in Hong Kong. Mr. Rork previously held various product development and supply chain positions with Ralph Lauren Childrenswear and Nickelodeon Stores.
“Chris has extensive supply chain experience and will provide the leadership needed as our business continues to grow and evolve,” said Michael D. Casey. Mr. Rork succeeds Charles E. Whetzel, Jr., who is retiring from the Company after 19 years of service. “Charlie has made immeasurable contributions to Carter's over his long and successful career with the Company. We wish him well and are very grateful for all he has done to help build and strengthen our business,” said Mr. Casey.
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