US: Carter’s boosts Q2 earnings 14.8%
- Q2 net income up 14.8% to $2.5m
- Net sales of $327.0m
- FY outlook - high single-digits sales rise
Children's wear retailer Carter's has improved its second quarter earnings despite flat sales during the period.
"Our second quarter earnings are in-line with our expectations despite lower traffic in our retail stores," said Michael Casey, CEO. "Given the very strong start to the year and our multi-channel distribution strategy, sales in the first half of 2010 grew 8% and adjusted earnings per share grew 47%.
"We are expecting good sales growth in the second half of this year, driven by the compelling value of our product offerings and marketing strategies, which we feel position us well for the back-to-school and holiday seasons.
"We expect earnings in the second half, however, will be impacted by higher industry-wide supply chain costs."
Click here to view the company's full H1 results.
A former executive at kids' clothing maker Carter's Inc has been charged with fraud and insider trading by the Securities and Exchange Commission (SEC)....
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