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Carter's Inc Up 1.2% To $82.45 After Earnings Beat

Tuesday, February 27, 2024 09:55 AM | InvestorsObserver Analysts

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Carter's Inc Up 1.2% To $82.45 After Earnings Beat

Carter's Inc (CRI) said before open Tuesday that it earned $2.76 per share in quarter four 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $857.9 million, missing estimates by $11.2 million.

In the same quarter a year ago, the company earned $2.29 per share on revenue of $912.1 million.

The stock is up 1.2% to $82.45 after the report.

Despite Carter's Inc reporting a decline in revenues, earnings increased signaling a rise in profit margins.

The average recommendation from Wall Street analysts was a Sell which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 44. Meanwhile, the average Wall Street analyst rated the stock a Sell.

Carter's Inc makes apparel for babies and children under brand names including Carter's and OshKosh B'gosh. It sells its products through a multi-channel, global business model, which includes retail stores, eCommerce, and wholesale sales channels, as well as retail omnichannel capabilities in the United States and Canada, which enables it to reach a broad range of consumers around the world. The majority of Carter's sales are in the U.S. and through Carter's brand. The company predominantly sources products through contract manufacturers in Asia. It has multiple distribution centers in the U.S., in addition to distribution centers in Canada and Asia that serve international customers.

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