Loading...
•
Oct 01, 2022
Carter's Q3 2022 Earnings Report
Reported third quarter fiscal 2022 results.
Key Takeaways
Carter's, Inc. reported a decrease in net sales by 8.1% to $818.6 million, driven by declines in the U.S. Retail, International, and U.S. Wholesale segments. Diluted EPS was $1.67, compared to $1.93 in the same quarter of the previous year. The company returned $331 million to shareholders year-to-date.
Net sales decreased by 8.1% to $819 million.
Operating income decreased to $92 million.
Diluted EPS was reported at $1.67.
The company returned $331 million to shareholders year-to-date through share repurchases and dividends.
Revenue by Segment
Forward Guidance
For the fourth quarter of fiscal 2022, the Company projects net sales of approximately $845 million to $885 million and adjusted diluted earnings per share of approximately $1.40 to $2.00. For fiscal year 2022, the Company projects net sales of approximately $3.145 billion to $3.185 billion and adjusted diluted earnings per share of approximately $6.05 to $6.65.
Positive Outlook
- Improved price realization
- Reduced discretionary spending
- A better mix and level of inventories relative to last year to support holiday demand
- Continued investment in our direct-to-consumer, customer acquisition, brand marketing, and distribution capabilities
- Lower interest expense; and Cumulative benefit of share repurchases
Challenges Ahead
- Continued challenging macroeconomic environment
- U.S. Retail comparable sales decline of approximately 10% to 15%
- Lower U.S. Wholesale sales, reflecting risk of lower demand and supply chain delays
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...