Carter's, a US-based marketer of apparels for babies and young children, has posted a 2.9 per cent sales increase to $890.6 million in the third quarter (Q3) of FY21, driven by growth in international and US retail business segments. The company expects the continued momentum in upcoming quarter and has raised its outlook for FY21, anticipating sales to reach approximately $3.45 billion.
Carter's, a marketer of apparels for babies and young children, has posted a 2.9 per cent sales increase to $890.6 million in the third quarter (Q3) of FY21, driven by growth in international and US retail business segments. The company expects the continued momentum and raised its outlook for FY21, anticipating sales to reach approximately $3.45 billion.#
“We meaningfully exceeded our earnings objectives for the third quarter,” Michael Casey, chairman and chief executive officer at Carter’s, said in a press release. “While supply chain delays impacted our ability to support the strong demand for our brands in the quarter, our continued progress with price realisation, productivity improvements, and expense management enabled us to offset higher transportation costs and improve profit margins.”
Carter's, a marketer of apparels for babies and young children, has posted a 2.9 per cent sales increase to $890.6 million in the third quarter (Q3) of FY21, driven by growth in international and US retail business segments. The company expects the continued momentum and raised its outlook for FY21, anticipating sales to reach approximately $3.45 billion.#
Gross profit the quarter ended on October 2, 2021, totalled to $890.6 million ($865.0 million), and operating income went up to $124.0 million ($113.5 million). Furthermore, the company’s net income marginally increased to $84.9 million ($81.2 million).
Carter's, a marketer of apparels for babies and young children, has posted a 2.9 per cent sales increase to $890.6 million in the third quarter (Q3) of FY21, driven by growth in international and US retail business segments. The company expects the continued momentum and raised its outlook for FY21, anticipating sales to reach approximately $3.45 billion.#
The children’s apparel manufacturer reported that the US retail sales went up by 15 per cent to $465.7 million ($449.1 million), whereas US wholesale sales declined by 3 per cent to $294.2 million ($302.1 million) affected by late arriving product due to supply chain disruptions. International sales for the Q3 FY21 advanced 4 per cent to $22.7 million ($17.4 million).
Carter's, a marketer of apparels for babies and young children, has posted a 2.9 per cent sales increase to $890.6 million in the third quarter (Q3) of FY21, driven by growth in international and US retail business segments. The company expects the continued momentum and raised its outlook for FY21, anticipating sales to reach approximately $3.45 billion.#
“We are raising our previous sales outlook for the fourth quarter and flowing through the stronger third quarter earnings to the full year,” Casey said. “This improved outlook reflects the benefit of wholesale customer shipments shifting from the third quarter to the fourth quarter, favourable trends in international demand, and expected continued progress in improving price realisation.”
Fibre2Fashion News Desk (JL)
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