CARTER’S Reports 14.3% Decrease in Revenue for Q2 FY2023
August 29, 2023
🌥️Earnings Overview
CARTER’S ($NYSE:CRI) announced their financial results for the second quarter of FY2023 on July 28 2023, which showed a total revenue of USD 600.2 million for the quarter ending June 30 2023 – a decrease of 14.3% compared to the same period in the prior year. Net income for the quarter was reported to be USD 23.9 million, a decrease of 35.4% compared with the same period in the previous year.
Analysis
Analyzing CARTER’S’s wellbeing with GoodWhale is important for any investor looking to make a determined decision. GoodWhale’s Risk Rating for CARTER’S states that it is a high risk investment in terms of financial and business aspects. GoodWhale has detected three risk warnings in the income sheet, balance sheet, and non-financial. To get an in-depth overview of the company’s financial and business situation, it is recommended to register on goodwhale.com for a more detailed analysis. It is important to note that understanding the risk profile of CARTER’S can help investors make informed decisions. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Carter’s. More…
| Total Revenues | Net Income | Net Margin |
| 3.03k | 201.75 | 7.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Carter’s. More…
| Operations | Investing | Financing |
| 391.2 | -50.41 | -399.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Carter’s. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.29k | 1.51k | 20.8 |
Key Ratios Snapshot
Some of the financial key ratios for Carter’s are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -2.0% | 4.8% | 9.8% |
| FCF Margin | ROE | ROA |
| 11.3% | 23.6% | 8.1% |
Peers
The company’s competitors include Children’s Place Inc, Apranga APB, and Boot Barn Holdings Inc.
– Children’s Place Inc ($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
Investors should take note of CARTER’S second quarter FY2023 earnings, which saw a 14.3% decrease in revenue compared to the previous year and a 35.4% drop in net income. While this is not ideal, it is important to recognize that the company has a successful track record of performance over the long term. Investors should monitor CARTER’S growth and profitability to determine if it is a good investment opportunity. Furthermore, analyzing the company’s strategy, competitive advantage, and financial health should help potential investors make an informed decision.
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