Carter's Q3 earnings and sales climb
- Q3 earnings up 16.5%
- Sales up 5.1%
Carter's net sales increased by 5.1% in the third quarter
Children's wear company Carter's has revealed an increase in third-quarter sales and earnings, which met the group's expectations.
Net income in the three months ended 27 September was up 16.5% to US$65.9m from $56.6m a year earlier.
Consolidated net sales increased $38.8m, or 5.1%, to $798.9m in the quarter.
"We've achieved our sales and earnings objectives in the third quarter," said CEO Michael Casey. "Our growth was driven by our US direct-to-consumer and international businesses. We're expecting good growth in sales and earnings in the balance of the year driven by the strength of our product offerings and compelling value provided by our Carter's and OshKosh B'gosh brands."
In fiscal 2014, the company projects net sales to increase around 8% to 10%, and adjusted diluted earnings per share to increase around 14% to 16%.
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