Carter's (CRI) Tops Q3 EPS by 5c

Carter's (NYSE: CRI) reported Q3 EPS of $1.70, $0.05 better than the analyst estimate of $1.65. Revenue for the quarter came in at $948 million versus the consensus estimate of $949.68 million.

2017 Business Outlook

For fiscal 2017, the Company projects net sales to increase approximately 6% compared to fiscal 2016 and adjusted earnings per diluted share to increase approximately 9% compared to adjusted earnings per diluted share of $5.14 in fiscal 2016. This forecast for fiscal 2017 adjusted earnings per diluted share excludes: (1) anticipated expenses of approximately $4.6 million related to acquisitions, $2.7 million related to retail store restructuring, and $0.3 million related to the Company\'s direct sourcing initiative, which includes severance and relocation costs, and (2) a benefit of approximately $3.6 million related to an acquisition contingency fair value adjustment.

For the fourth quarter of fiscal 2017, the Company projects net sales to increase approximately 10% compared to the fourth quarter of fiscal 2016 and adjusted earnings per diluted share to increase approximately 21% compared to adjusted earnings per diluted share of $1.79 in the fourth quarter of fiscal 2016. This forecast for the fourth quarter of fiscal 2017 adjusted earnings per diluted share excludes anticipated expenses of approximately $0.5 million related to acquisitions

For earnings history and earnings-related data on Carter's (CRI) click here.

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