Carter's Inc, the largest branded marketer in the United States of apparel exclusively for babies and young children, reported its fourth quarter and fiscal 2007 results.
Fourth Quarter of Fiscal 2007 compared to Fourth Quarter of Fiscal 2006
Consolidated net sales increased 4.2% to $393.4 million. Net sales of the Company's Carter's brands increased 4.0% to $294.0 million. Net sales of the Company's OshKosh brand increased 4.8% to $99.4 million.
Consolidated retail store sales increased 9.6% to $189.0 million. Carter's retail store sales increased 13.8% to $112.8 million, driven by a comparable store sales increase of $8.5 million, or 8.9%, and sales of $5.4 million from new stores. OshKosh retail store sales increased 3.9% to $76.2 million, driven by sales of $5.1 million from new stores, partially offset by a comparable store sales decrease of $2.2 million, or 3.0%.
In the fourth quarter of fiscal 2007, the Company opened seven Carter's and four OshKosh retail stores. The Company also closed one Carter's and three OshKosh retail stores. As of December 29, 2007, the Company had 228 Carter's and 163 OshKosh retail stores.
The Company's mass channel sales, which are comprised of sales of its Child of Mine brand to Wal-Mart and Just One Year brand to Target, increased 11.8% to $54.8 million. This increase was driven by a $4.7 million, or 20.4%, increase in sales of our Just One Year brand and a $1.1 million, or 4.2%, increase in sales of our Child of Mine brand.