In the second quarter of fiscal 2006, the company opened four Carter's retail stores and one OshKosh retail store. The company closed three Carter's retail stores during the second quarter of fiscal 2006. As of July 1, 2006, the company had 200 Carter's retail stores and 143 OshKosh retail stores.
In the second quarter of fiscal 2006, net income increased 65.5% to $9.0 million, or $0.15 per diluted share, including non-cash charges of $0.01 per diluted share of intangible amortization resulting from the Acquisition and $0.01 per diluted share related to stock-based compensation resulting from the adoption of Statement of Financial Accounting Standards No. 123 (revised 2004), "Share-Based Payment" ("SFAS 123R").
Net income of $5.5 million, or $0.09 per diluted share, for the second quarter of fiscal 2005 included charges of $0.05 per diluted share associated with the closure of two sewing facilities in Mexico. Excluding these charges in each period, adjusted net income increased 18.2% to $10.4 million. Diluted earnings per share, excluding these charges in each period, increased 21.4% to $0.17 per diluted share.
First half 2006 compared to first half 2005
Net sales increased 44.0% to $574.0 million. Excluding OshKosh sales of $142.1 million, net sales increased 8.3% to $431.9 million.
The company's wholesale sales increased 27.3% to $235.5 million. Excluding OshKosh sales of $49.0 million and Carter's off-price sales of $13.8million in 2006 and $18.5 million in 2005, wholesale sales increased 3.7% to $172.7 million.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
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