CARTER’S Beats Estimates with Q1 Revenue of $695.9M
May 6, 2023
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CARTER’S ($NYSE:CRI) Inc. continues to defy expectations with their Q1 revenue reported at $695.9M, outperforming the Street’s estimate of $648.6M. Its flagship brands include Carter’s, OshKosh B’Gosh and Skip Hop which are sold globally in retail stores, as well as online. CARTER’S has recently undertaken a number of innovative initiatives to increase their competitiveness in the global market.
These efforts include improvements to their e-commerce platform, expansion of their distribution channels, and increased focus on omni-channel marketing. The successful implementation of these strategies has enabled CARTER’S to generate strong revenue growth and has positioned the company for further success in the future.
Earnings
In the latest earning report of Fiscal Year 2023 for the first quarter ending on March 31 2023, CARTER’S reported total revenue of 695.88M USD and net income of 36.0M USD. Compared to the same quarter from the previous year, there was a 10.9% decrease in total revenue and a 47.0% decrease in net income. This marks a third consecutive year of total revenue decreasing from 787.36M USD to 695.88M USD.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Carter’s. More…
| Total Revenues | Net Income | Net Margin |
| 3.13k | 214.73 | 7.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Carter’s. More…
| Operations | Investing | Financing |
| 294.37 | -46.54 | -790.56 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Carter’s. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.28k | 1.49k | 21.07 |
Key Ratios Snapshot
Some of the financial key ratios for Carter’s are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -3.1% | 3.6% | 10.0% |
| FCF Margin | ROE | ROA |
| 7.9% | 24.6% | 8.6% |
Price History
On Wednesday, CARTER’S, a leading retail company, announced its first quarter revenue of $695.9M, beating estimates. This revenue demonstrates the company’s continued success in the retail space, despite the challenges posed by the pandemic. The impressive performance of CARTER’S in the first quarter provides a positive outlook for the rest of the year. Investors are hopeful that the company will remain on track and continue to exceed expectations. Live Quote…
Analysis
After analyzing CARTER’S fundamentals, GoodWhale has determined that the company is classified as a ‘cow’ type of company, which is characterized by consistent and sustainable dividend payouts. This makes CARTER’S particularly attractive to investors who are looking for steady dividend income. Furthermore, GoodWhale has determined that CARTER’S is strong in dividends, profitability and medium in assets and weak in growth. Additionally, CARTER’S also has a high health score of 9/10, indicating that the company has sufficient cashflows and debt to sustain future operations even during times of crisis. Thus, CARTER’S is an ideal investment for those who are seeking a steady stream of dividend income. More…
Peers
The company’s competitors include Children’s Place Inc, Apranga APB, and Boot Barn Holdings Inc.
– Children’s Place Inc ($NASDAQ:PLCE)
Children’s Place Inc is a publicly traded company with a market capitalization of 506.93M as of 2022. The company’s return on equity is 55.72%. Children’s Place Inc is a specialty retailer of children’s apparel and accessories. The company operates through two segments: North America and Europe. Children’s Place Inc offers a variety of merchandise, including clothing, footwear, accessories, and gifts. The company was founded in 1969 and is headquartered in Secaucus, New Jersey.
– Apranga APB ($LTS:0KJF)
As of 2022, Apranga APB has a market cap of 103.12M. The company’s return on equity is 19.95%. Apranga APB is a Lithuanian clothing retail chain. The company was founded in 1989 and is headquartered in Vilnius, Lithuania. Apranga APB operates in Lithuania, Latvia, and Estonia. The company operates a chain of stores under the Apranga and APB brands. Apranga APB offers a range of clothing, footwear, and accessories for men, women, and children.
– Boot Barn Holdings Inc ($NYSE:BOOT)
As of 2022, Boot Barn Holdings Inc has a market cap of 1.71B and a Return on Equity of 23.87%. The company is a retailer of western and work-related footwear, apparel, and accessories for men, women, and children.
Summary
CARTER’S reported their first quarter earnings, with total revenue of $695.9M, beating market expectations of $648.6M. This marks a strong start to the year for the company and provides a positive outlook for investors. With their impressive first quarter results, CARTER’S is well-positioned to continue its trend of growth and success.
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