Carter's profit beats on better margins
Children's clothing company Carter's Inc reported quarterly profit ahead of market expectations, helped by higher gross margins.
Carter's said it expects adjusted earnings for the full year to increase about 20 to 25 percent from the $2.09 per share profit it reported a year earlier.
The company, which owns retail stores and sells its merchandise through discounters such as Wal-Mart Stores Inc and Target Corp, said it expects net sales for 2012 to rise 9 to 11 percent from fiscal 2011.
Earnings for the quarter rose to $20.8 million, or 35 cents per share, from $12.7 million, or 22 cents per share, a year earlier.
Excluding one-off costs, the company earned 37 cents.
Sales rose 20 percent to $472 million.
Analysts on average expected earnings of 30 cents per share on revenue of $474.1 million, according to Thomson Reuters I/B/E/S.
Carter's shares closed at $52.14 on Tuesday on the New York Stock Exchange.
 Photo: Carter's |
Carter's said it expects adjusted earnings for the full year to increase about 20 to 25 percent from the $2.09 per share profit it reported a year earlier.
The company, which owns retail stores and sells its merchandise through discounters such as Wal-Mart Stores Inc and Target Corp, said it expects net sales for 2012 to rise 9 to 11 percent from fiscal 2011.
Earnings for the quarter rose to $20.8 million, or 35 cents per share, from $12.7 million, or 22 cents per share, a year earlier.
Excluding one-off costs, the company earned 37 cents.
Sales rose 20 percent to $472 million.
Analysts on average expected earnings of 30 cents per share on revenue of $474.1 million, according to Thomson Reuters I/B/E/S.
Carter's shares closed at $52.14 on Tuesday on the New York Stock Exchange.
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