CARTER’S Reports Second Quarter Earnings Results for FY2023 on July 28
August 15, 2023
🌥️Earnings Overview
On July 28 2023, CARTER’S ($NYSE:CRI) reported their financial results for the second quarter of FY2023 which ended on June 30 2023. Total revenue for this quarter was USD 600.2 million, a decrease of 14.3% from the same period the year before. Net income was also significantly lower, amounting to USD 23.9 million, which was a 35.4% decrease compared to Q2 of FY2022.
Market Price
Investors responded well to the report, with CARTER’S stock opening at $74.5 and closing at $75.5, up by 1.1% from previous closing price of 74.7. This indicates a strong sign of confidence in CARTER’S future performance and outlook. These results strengthen the company’s position to remain a major player in the retail industry for years to come.
Overall, CARTER’S reported a solid second quarter performance and the stock continues to show strong improvement, indicating a good outlook for their future performance. Investors are encouraged to watch out for any further updates from CARTER’S as they continue to build on their success. Live Quote…
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% |
Analysis
GoodWhale can help you analyze the fundamentals of CARTER’S. Our Risk Rating reveals that CARTER’S is a high risk investment when it comes to financial and business aspects. We have detected 3 risk warnings in the income sheet, balance sheet, and non-financial aspects that could potentially be concerning. To find out more about these warnings, become a registered GoodWhale user so you can have access to more detailed information. By using our platform, you can be equipped with the knowledge and tools to make an informed investment decision. 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 second quarter FY2023 earnings results on July 28 2023, showing total revenue of USD 600.2 million, down 14.3% year on year. Net income was also significantly lower than the previous year, hitting USD 23.9 million, a decrease of 35.4%. While these results appear to be a cause for concern for investors, they should take into account factors such as market conditions and sector performance when making their investment decision. Long-term investors may wish to further analyze the company’s financial health and outlook prior to making any investment decisions.
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