Carter's, a US-based marketer of apparels for babies and young children, has posted 20.0 per cent sales growth to $787.4 million in its first quarter (Q1) FY21 ended on April 3, 2021, compared to the sales of $654.5 million in the same quarter previous fiscal. The company’s net income for Q1 FY21 rose to $86.2 million (Q1 FY20: loss $78.7 million).

 

Carter's, a US-based marketer of apparels for babies and young children, has posted 20.0 per cent sales growth to $787.4 million in its first quarter (Q1) FY21 ended on April 3, 2021, compared to the sales of $654.5 million in the same quarter previous fiscal. The company's net income for Q1 FY21 rose to $86.2 million (Q1 FY20: loss $78.7 million).#

“Our first quarter sales and earnings meaningfully exceeded our expectations, with growth in each of our retail, wholesale, and international business segments,” Michael D Casey, chairman and chief executive officer at Carter’s, said in a press release. “We saw demand for our brands surge in March driven by the strength of our spring product offerings, unprecedented government stimulus supporting families with young children, and progress with vaccinations enabling more children to return to school.”

 

Carter's, a US-based marketer of apparels for babies and young children, has posted 20.0 per cent sales growth to $787.4 million in its first quarter (Q1) FY21 ended on April 3, 2021, compared to the sales of $654.5 million in the same quarter previous fiscal. The company's net income for Q1 FY21 rose to $86.2 million (Q1 FY20: loss $78.7 million).#

Gross profit for the quarter increased to $391.7 million ($228.3 million), while selling, general and administrative expenses were $271.9 million ($269.8 million). The company’s operating income grew to $127.5 million (operating loss: $78.5 million).

 

Carter's, a US-based marketer of apparels for babies and young children, has posted 20.0 per cent sales growth to $787.4 million in its first quarter (Q1) FY21 ended on April 3, 2021, compared to the sales of $654.5 million in the same quarter previous fiscal. The company's net income for Q1 FY21 rose to $86.2 million (Q1 FY20: loss $78.7 million).#

US retail sales for the reported period increased to $407.0 million ($320.7 million), whereas US wholesale sales jumped to $283.4 million ($252.1 million). International sales rose to $96.9 million ($81.6 million).

 

Carter's, a US-based marketer of apparels for babies and young children, has posted 20.0 per cent sales growth to $787.4 million in its first quarter (Q1) FY21 ended on April 3, 2021, compared to the sales of $654.5 million in the same quarter previous fiscal. The company's net income for Q1 FY21 rose to $86.2 million (Q1 FY20: loss $78.7 million).#

“Despite ongoing pandemic-related challenges, we believe the strength of our brands, unparalleled multi-channel model, depth of relationships with essential retailers, and strong value proposition will enable us to achieve our growth objectives. And, with the continued progress with vaccinations, we believe Carter’s is well positioned to benefit from a global recovery from the pandemic,” Casey said.