Carter’s Dips As Q4 Results Miss The Street View
Shares of Carter’s, Inc. (CRI), a designer and marketer of children’s apparel, are falling more than 8% Friday morning after the company’s fourth-quarter results missed analysts’ view. The company’s fourth-quarter as well as full-year outlook came in below the Street view.
The company reported income of $65.0 million, or $1.67 per share in the third quarter, lower than $85.0 million, or $1.93 per share a year ago.
Excluding one-time items, earnings were $65.0 million or $1.67 per share, that missed the average estimate of analysts polled by Thomson-Reuters of $1.7 per share.
Net sales decreased 8.1%, to $818.6 million, driven by declines in the Company’s U.S. Retail, International and U.S. Wholesale sales. The consensus estimate was for $853.58 million.
Looking forward, the company sees fourth-quarter sales of $845 million-$885 million and adjusted EPS of $1.40-$2.00. Analysts expect the company to report earnings of $2.56 per share on revenue of $963.82 million.
For the full year, sales are expected between $3.145 billion and $3.185 billion and adjusted EPS to be in the range of $6.05-$6.65. The consensus estimate for earnings is at $7.18 per share and for revenue is at $3.29 billion.
CRI, currently at $67.14, has traded in the range of $62.66-$111.17 in the last 1 year.
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