Home / Knowledge / News / Retail / Carter's exceeds sales & earnings in Q1FY19

Carter's exceeds sales & earnings in Q1FY19

12
May '19
Pic: Carter
Pic: Carter
Carter’s, Inc., the largest branded marketer in North America of apparel exclusively for babies and young children, has exceeded its sales and earnings objectives in the first quarter of fiscal 2019. Changes in foreign currency exchange rates in the first quarter of fiscal 2019 affected the consolidated net sales in the quarter by $3.0 million.

US retail segment sales decreased $6.7 million, or 1.7 per cent, to $377.1 million. US retail comparable sales declined 3.7 per cent, reflecting a decline in store sales which were partially offset by growth in e-commerce sales. The company believes first quarter fiscal 2019 sales were adversely affected by the later timing of Easter, cold weather around the country, and the Gymboree liquidation.

In the first quarter of fiscal 2019, the company opened four stores and closed fourteen stores in the United States. As of the end of the first quarter of fiscal 2019, the company operated 834 retail stores in the United States

Operating income in the first quarter of fiscal 2019 increased $0.5 million, or 0.7 per cent, to $60.8 million, compared to $60.3 million in the first quarter of fiscal 2018. Operating margin increased 20 basis points to 8.2 per cent, compared to 8.0 per cent in the first quarter of fiscal 2018.

“We exceeded our sales and earnings objectives in the first quarter,” said Michael D Casey, chairman and chief executive officer. “As expected, demand for our brands improved meaningfully in the weeks leading up to Easter, which occurred three weeks later than last year. Given the current trends in our business and favorable response to our product offerings and marketing strategies, we are expecting good growth in sales and earnings this year and are reaffirming our growth objectives for 2019.”

For the second quarter of fiscal 2019, the company projects net sales will increase approximately 4 to 6 per cent compared to the second quarter of fiscal 2018 and adjusted diluted earnings per share to be approximately comparable to diluted earnings per share of $0.79 in the second quarter of fiscal 2018.

For fiscal 2019, the company projects net sales will increase approximately 1 to 2 per cent compared to fiscal 2018 and adjusted diluted earnings per share will increase approximately 4 to 6 per cent compared to adjusted diluted earnings per share of $6.29 in fiscal 2018. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

World Bank offers Sh1.2b to boost Kenya's cotton sector

Textiles | On 26th May 2019

World Bank offers Sh1.2b to boost Kenya's cotton sector

Kenya's Kisumu National Polytechnic has received Sh1.2 billion...

Textile industry park in Mandalay with JICA assistance

Textiles | On 26th May 2019

Textile industry park in Mandalay with JICA assistance

A textile industry park will be set up in Mandalay city with...

Pic: European Commission

Apparel/Garments | On 26th May 2019

Manifesto for circularity in global fashion launched

Realising the limitations of the linear model in fashion, five...

Interviews View All

Rashi Menda, Zapyle

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Victor Chao, Esmetex

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Top executives, Textile industry

Top executives
Textile industry

Customised t-shirts is not a fad

Rikesh Mistry,

Rikesh Mistry

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

Sandip Bhojani, Manthan Patel,

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Yash Jain & Sanjeev Jain,

Yash Jain & Sanjeev Jain

Divyam Export, launched about 30 years ago, exports to 15 countries,...

Andreas Lukas, Andritz Nonwoven

Andreas Lukas
Andritz Nonwoven

With forces in engineering and process development, Andritz Nonwoven...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Keith Mcmillan, Bebop Sensors

Keith Mcmillan
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Sanjukta Dutta, Sanjukta's Studio

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Hemant & Nandita, Hemant & Nandita

Hemant & Nandita
Hemant & Nandita

The designer duo of Hemant &amp; Nandita are known for being inspired by...

Samar Firdos, Arvind Ltd

Samar Firdos
Arvind Ltd

<b>Samar Firdos</b>, Chief Manager (Design) at Lifestyle Apparel Denim...

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

Leave your Comments


June 2019

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

news category


Related Categories:

Advanced Search