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

Germany to promote Bangladesh's RMG industry

Apparel/Garments | On 25th May 2019

Germany to promote Bangladesh's RMG industry

The German embassy in Bangladesh will work closely to promote...

Pic: Mintel

Textiles | On 25th May 2019

UK courier, express delivery market hit £12.6 bn in 2018

British customers' love of online shopping is pushing the courier and ...

Pic: Target Corporation

Retail | On 25th May 2019

Comparable digital sales at Target soar 42% in Q1FY19

First quarter comparable digital channel sales of Target Corporation...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek, Kannbar

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Karin Ekberg, Leadership & Sustainability

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Smita Murarka, Amanté

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Ramez Basmaji,

Ramez Basmaji

Fabusse is a Lebanon-based fashion agency that offers a variety of...

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Sandip Bhojani, Manthan Patel,

Sandip Bhojani, Manthan Patel

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

Isabel Herranz, European School of Business & innovation

Isabel Herranz
European School of Business & innovation

Cutting-edge ideas like the Internet of Things and artificial intelligence ...

Eamonn Tighe, Nature Works LLC

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Eric Scholler, Groz-Beckert

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

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