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Carter's reports record third quarter sales

Carter’s, parent company of Carter's and OshKosh B'gosh, reported record sales in the third quarter, driven primarily by growth in the company’s Carter's brand and international businesses.

“Our growth reflects the strength of our brands and multi-channel business model,” said chairman and CEO Michael D. Casey. “We believe we are well-positioned with strong product offerings and compelling promotions heading into the holiday season and expect to achieve our growth objectives this year."

The company’s consolidated net sales increased 13.7% to $760.2 million. Net domestic sales of the company’s Carter’s brands increased 15.6% to $569.6 million. Net domestic sales of the company’s OshKosh B’gosh brand increased 0.1% to $106.5 million. Net international sales increased 21.1% to $84.1 million.

Carter’s retail segment sales increased 15.5% to $251.0 million. The increase was driven by incremental sales of $19.2 million from new store openings, a 52.5 increase in e-commerce sales and a comparable store sales increase of 0.5%. This growth was partially offset by $1 million in lower sales due to store closings. In the third quarter, the company opened 417 Carter’s retail stores in the United States for a current total of 455 stores.

Carter’s wholesale segment sales increased 15.6% to $318.6 million.

OshKosh retail segment sales increased 4.9% to $81.9 million. The increase reflects a 38.8% increase in e-commerce sales, incremental sales of $2.8 million from new store openings and a comparable store sales increase of 1%. The increases were partially offset by $2.8 million in lower sales due to store closings. In the third quarter, in the United States, the company opened seven OshKosh retail stores and closed one, for a current total of 170 stores.

OshKosh wholesale segment sales decreased 13.1% to $24.6 million.

International segment sales increased 21.1% to $84.1 million, driven by growth in the wholesale channel and the company's Canadian retail store business. Canadian comparable store sales declined 3.6%, reflecting a 6.4% decline in its Bonnie Togs format stores and a 1.3% decline in its Carter's / OshKosh co-branded stores. Japan operations contributed $3.9 million to international segment sales.

Carter's is the largest branded marketer in the United States of apparel and related products exclusively for babies and young children. The company owns the Carter's and OshKosh B'gosh brands. These brands are sold in leading department stores, national chains and specialty retailers domestically and internationally. They are also sold through more than 700 company-operated stores in the United States, Canada and Japan and online. The company's Just One You, Precious Firsts and Genuine Kids brands are available at Target, and its Child of Mine brand is available at Walmart.

 

 

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