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Oct 02, 2021
Carter's Q3 2021 Earnings Report
Reported third quarter fiscal 2021 results with net sales increasing and earnings objectives meaningfully exceeded.
Key Takeaways
Carter's, Inc. reported a 3% increase in net sales to $891 million in the third quarter of fiscal 2021. Diluted EPS increased to $1.93, and the company returned $128 million to shareholders through dividends and share repurchases. The company is raising its full-year profit outlook and forecasting record earnings for 2021.
Net sales grew by 3% to $891 million.
U.S. Retail comparable sales increased by 5.9%.
Operating margin improved to 13.9% compared to 13.1% in Q3 2020.
Diluted EPS rose to $1.93 from $1.85 in Q3 2020.
Revenue by Segment
Forward Guidance
For the fourth quarter of fiscal 2021, the Company projects net sales will be approximately $1,025 million, adjusted operating income will be approximately $127 million, and adjusted diluted earnings per share will be approximately $2.00. For fiscal 2021, the Company projects net sales will be approximately $3.45 billion, adjusted operating income will be approximately $490 million and adjusted diluted earnings per share will be approximately $7.57.
Positive Outlook
- Benefit of wholesale customer shipments shifting from the third quarter to the fourth quarter
- Favorable trends in international demand
- Expected continued progress in improving price realization
- Raising previous sales outlook for the fourth quarter
- Flowing through the stronger third quarter earnings to the full year
Challenges Ahead
- A 14 week fiscal quarter in 2020
- Higher transportation costs
- The benefit of the release of inventory reserves in the prior year period
Historical Earnings Impact
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Avg. Return Before/After Earnings
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