The shares of Carter’s Inc. (CRI) have gained 5.56% to $104.0 as of the last check in pre-market trading. CRI stock closed at $98.52 last session, up to $0.31 or 0.32%. A share of CRI stock traded between $98.50 and $100.22 during the session. The number of shares traded recorded by CRI stock was 0.76 million, compared to 0.56 million for the last 50 days and 0.66 million over the past year. Following the release of its quarterly results, CRI stock is rising.
For which quarter did CRI Stock report its results?
In North America, Carter’s is the largest branded marketer of baby and children’s apparel. Two of the most recognized brands in the marketplace are owned by CRI, Carter’s and OshKosh B’Gosh. In addition to leading department stores and national chains, CRI’s brands are also found in specialty retailers around the world. In addition to selling them in CRI’s 1,000 stores in the U.S., Canada, and Mexico, and online, the company also operates others. In addition to Skip Hop, CRI owns a global lifestyle brand geared toward young families. Atlanta, Georgia, is home to CRI.
Carter’s today announced its fiscal 2021 2nd quarter results.
Q2, 2021 vs Q2, 2020, a comparison:
- All business segments experienced strong growth as net sales increased by 231.5 million, or 45.0%.
- In the US Retail, US Wholesale, and International segments, CRI grew 34 percent, 53 percent, and 93 percent, respectively.
- During the second quarter of fiscal 2021, foreign exchange rate changes led to an increase of $8.0 million in consolidated net sales.
- Operating income increased to $107.6 million from $21.0 million in the second quarter of fiscal 2020, a $76.6 million increase.
- Operating margins increased to 14.4%, compared to 4.1% in the last year.
- Operating income increased by $69.3 million to $110.4 million from $41.1 million in the second quarter of fiscal 2020.
- Accordingly, the adjusted operating margin increased to 14.8% versus 8.0% in the same period last year, driven by strong product demand, improved price realization, and better expense management.
- There were $71.6 million in net income, or $1.62 per diluted share, compared to $8.2 million, or $0.19 per diluted share, in the second quarter of fiscal 2020.
- The adjusted net income was $73.7 million, up from $23.6 million in the second quarter of fiscal 2020.
- As opposed to $0.54 earnings per diluted share in the second quarter of fiscal 2020, adjusted earnings per diluted share was $1.67.
What contributed to CRI’s positive results?
Sales and earnings at Carter’s (CRI) were at record levels in the second quarter as its brands continued to enjoy strong demand, particularly in stores, as store reopenings, vaccination progress, and easing pandemic-related restrictions contributed to these results. A competitive offering, more effective marketing, leaner inventories, and improved price realization enabled CRI to exceed its expectations.
