Key Developments: Carter's Inc (CRI)
70.20USD
24 May 2013
$0.31 (+0.44%)
$69.89
$69.22
$70.36
$69.16
651,792
893,250
$71.90
$48.67
Latest Key Developments (Source: Significant Developments)
Carter's Inc Initiates $0.16 Per Share Quarterly Dividend; Authorizes $300 Million Share Repurchase Program
Carter's Inc announced that its Board of Directors has approved a $300 million share repurchase authorization and instituted a quarterly dividend. The share repurchase authorization announced permits the Company to repurchase shares of its common stock up to $300 million, inclusive of approximately $38 million remaining under previous authorizations. Such purchases may be made in the open market or in privately negotiated transactions, with the level and timing of activity being at the discretion of the Company's management depending on market conditions, stock price, other investment priorities, and other factors. These share repurchase authorizations have no expiration date. The Board authorized a quarterly cash dividend of $0.16 per share to be paid June 14, 2013, for shareholders of record at the close of business on May 31, 2013. Full Article
Carter's Inc Issues Q2 2013 Guidance; Reaffirms FY 2013 Guidance
Carter's Inc announced that for the second quarter of 2013, it expects net sales to increase approximately 10% compared to net sales of $472 million in the second quarter of 2012. The Company expects adjusted diluted earnings per share (EPS) to increase approximately 14% compared to adjusted diluted EPS of $0.37 in the second quarter of fiscal 2012. For fiscal 2013, the Company continues to expect net sales will increase approximately 8% to 10% compared to net sales of $2.4 billion in fiscal 2012. The Company expects adjusted diluted EPS to increase approximately 15% compared to adjusted diluted EPS of $2.85 in fiscal 2012. This forecast for fiscal 2013 adjusted diluted EPS excludes anticipated expenses of approximately $35 million to $39 million related to the office consolidation, expenses totaling approximately $5 million related to the acquisition of Bonnie Togs and the previously-announced distribution center closure, or other items the Company believes to be nonrepresentative of underlying business performance. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $523 million and EPS of $0.45 the second quarter of 2013; and revenue of $2.6 billion and EPS of $3.31 for fiscal 2013. Full Article
Carter's Inc Issues Q1 2013 Guidance Below Analysts' Estimates; Issues FY 2013 Guidance; EPS Guidance Below Analysts' Estimates
Carter's Inc announced that for first quarter of 2013, it expects net sales to increase approximately 5% over the first quarter of fiscal 2012. The Company expects adjusted diluted earnings per share, excluding expenses of approximately $8 million to $10 million related to the previously-announced corporate office consolidation, expenses totaling approximately $1 million to $2 million related to the Bonnie Togs acquisition, to increase approximately 20% compared to adjusted diluted earnings per share of $0.56 in the first quarter of fiscal 2012. For fiscal 2013, it expects net sales to increase approximately 8% to 10% over fiscal 2012. The Company expects adjusted diluted earnings per share, excluding expenses of approximately $32 million to $36 million related to the previously-announced corporate office consolidation, expenses totaling approximately $4 million to $5 million related to the Bonnie Togs acquisition, to increase approximately 15% compared to adjusted diluted earnings per share of $2.85 in fiscal 2012. The Company reported revenue of $551.66 million in first quarter of 2012 and revenue of $2.381 billion in fiscal 2012. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $593 million and EPS of $0.78 for first quarter of 2013; revenue of $2.60 billion and EPS of $3.38 for fiscal 2013. Full Article
Carter's Inc Announces Changes To Leadership Team
Carter's Inc announced that Brian Lynch, currently Executive Vice President and Brand Leader for the Carter`s brand, has been promoted to President of Carter`s Inc. Full Article
Carter's Inc Issues Q4 2012 Guidance; Raises FY 2012 Guidance
Carter's Inc announced that for the fourth quarter of 2012, it expects net sales to increase approximately 10% over the fourth quarter of 2011, adjusted diluted earnings per share (EPS), excluding expenses of approximately $5 million to $7 million related to the previously-announced consolidation of its Shelton, Connecticut operations to Atlanta, Georgia, expenses totaling approximately $2 million related to the Bonnie Togs acquisition and the previously-announced distribution center closure, or other items the Company believes to be nonrepresentative of underlying business performance, to be approximately $0.81. For fiscal 2012, the Company expects net sales will increase approximately 12% over fiscal 2011 and adjusted diluted EPS, excluding expenses totaling approximately $7 million to $8 million related to the Bonnie Togs acquisition and the previously-announced distribution center closure, expenses of approximately $5 million to $7 million related to the previously-announced consolidation noted above, or other items the Company believes to be nonrepresentative of underlying business performance, to be approximately $2.77. Full Article
Carter's Inc Comments On Long Term Guidance-Conference Call
Carter's Inc announced that it expects its revenue to grow 8%-10% a year and earnings expected to grow about 15% to 20% a year. The Company reported revenues of $2.110 billion and EPS of $2.09 in fiscal 2011. According to I/B/E/S Estimates, analysts are expecting the Company to report revenues of $2.363 and EPS of $2.65 for fiscal 2012; revenues of $2.591 and EPS $3.31 of for fiscal 2013. Full Article
Carter's, Inc. Issues Q3 2012 Guidance Below Analysts' Estimates; Reaffirms FY 2012 Guidance
Carter's, Inc. announced that for the third quarter of 2012, it expects net sales to increase in the mid-single digit percentage range over the third quarter of 2011. The Company expects adjusted diluted EPS, excluding expenses totaling approximately $2 million related to the Bonnie Togs acquisition and the previously-announced distribution center closure, or other items the Company believes to be nonrepresentative of underlying business performance, to increase approximately 25% to 30%, compared to adjusted diluted EPS of $0.67 in the third quarter of 2011. For fiscal 2012, the Company expects net sales will increase approximately 9% to 11% over fiscal 2011. The Company expects adjusted diluted EPS, excluding approximately $4 million to $5 million in expenses related to the Bonnie Togs acquisition, $3 million to $4 million in expenses related to the previously-announced distribution center closure, or other items the Company believes to be nonrepresentative of underlying business performance, to increase approximately 20% to 25% compared to adjusted diluted earnings per share of $2.09 in fiscal 2011. The Company reported revenue of $639.6 million in third quarter of 2011 and revenue of $2.108 billion in fiscal 2011. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $689.9 million and EPS of $0.97 for third quarter of 2012; revenue of $2.38 billion and EPS of $2.67 for fiscal 2012. Full Article
Carter's, Inc. Issues Q2 2012 Guidance Above Analysts' Estimates; Raises FY 2012 Guidance
Carter's, Inc. announced that for second quarter of 2012, it expects net sales to increase approximately 20% over the second quarter of fiscal 2011. The Company expects adjusted diluted earnings per share, excluding expenses totaling approximately $2 million related to the Bonnie Togs acquisition and the announced distribution center closure, or other items the Company believes to be nonrepresentative of underlying business performance, to be approximately $0.26 to $0.30, compared to adjusted diluted earnings per share of $0.23 in the second quarter of fiscal 2011. For fiscal 2012, it expects net sales to increase approximately 9% to 11% over fiscal 2011. The Company expects adjusted diluted earnings per share (EPS), excluding approximately $4 million to $5 million in expenses related to the Bonnie Togs acquisition, $3 million to $4 million in expenses related to the announced distribution center closure, or other items the Company believes to be nonrepresentative of underlying business performance, to increase approximately 20% to 25% compared to adjusted diluted earnings per share of $2.09 in fiscal 2011. The Company reported revenue of $394.49 million in second quarter of 2011 and revenue of $2.108 billion in fiscal 2011. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $446 million and EPS of $0.18 for second quarter of 2012; revenue of $2.32 billion and EPS of $2.48 for fiscal 2012. Full Article
Carter's, Inc. Opens Flagship Store In Greater Toronto Area
Carter's, Inc. announced that it has opened its Canadian flagship store at Vaughan Mills. This 7,300 square foot store, located at one Bass Pro Mills Drive. The store is expected to employ 35 associates. Full Article
Carter's, Inc. To Replace 99 Cents Only Stores In S&P MidCap 400 Index
S&P announced that it will make the following changes to the S&P MidCap 400 and S&P SmallCap 600 Indices: S&P SmallCap 600 constituent Carter's Inc. will replace 99 Cents Only Stores in the S&P MidCap 400 index, and Virtus Investment Partners Inc. will replace Carter's in the S&P SmallCap 600 index after the close of trading on January 13, 2012. A consortium led by Ares Management LLC is acquiring 99ยข Only Stores in a deal expected to be completed on or about that date pending final approvals. SunCoke Energy Inc. will replace School Specialty Inc. in the S&P SmallCap 600 index after the close of trading on January 17, 2012. S&P 500 constituent Sunoco Inc. is spinning off SunCoke Energy in a transaction expected to be completed on or about that date pending final approvals. The Sunoco stub will remain in the S&P 500 index. School Specialty is ranked #600 in the SmallCap 600 index. Full Article
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