Carter’s, Inc. Reports Fourth Quarter and Fiscal 2015 Results and Announces Expanded Return of Capital Initiatives

ATLANTA–(BUSINESS WIRE)–Carter’s, Inc. (NYSE:CRI):

 

• Fourth quarter fiscal 2015

• Net sales $867 million

• Diluted EPS $1.39; adjusted diluted EPS $1.40, growth of 6%

• Record fiscal 2015 performance

• Net sales $3.0 billion, growth of 4%

• Diluted EPS $4.50; adjusted diluted EPS $4.61, growth of 17%

• Board of Directors authorizes new $500 million share repurchase
program and 50% increase to quarterly dividend

 

Carter’s, Inc. (NYSE:CRI), the largest branded marketer in the United
States and Canada of apparel exclusively for babies and young children,
today reported its fourth quarter and fiscal 2015 results.

“We exceeded our sales and earnings objectives in the fourth quarter,”
said Michael D. Casey, Chairman and Chief Executive Officer. “Our focus
on providing the best value and experience in young children’s apparel
enabled us to achieve our 27th consecutive year of sales growth, gain
market share, and deliver a record level of sales and profitability in
2015. We are planning good growth in sales and earnings in 2016 and plan
to grow our business to over $4 billion in sales by 2020 by extending
the reach of our iconic brands through our global and multi-channel
distribution capabilities.”

“Over the past three years, we have returned over $760 million to our
shareholders through dividends and share repurchases. The expanded
capital return initiatives announced today reflect the strength of our
business model and our continued commitment to return capital to our
shareholders,” Casey said.

Note on Net Sales and Comparable Sales (52 vs. 53 Week Calendars)

The Company’s fiscal 2015 results included 52 weeks compared to 53 weeks
in fiscal 2014 (a 13 week fourth quarter in 2015 versus a 14 week fourth
quarter in 2014). This change in the number of weeks from fiscal 2014 to
fiscal 2015 affects the comparability of results for the fourth quarter
and fiscal year 2015 compared to the same periods in fiscal 2014. The
additional week in fiscal 2014 contributed approximately $44.1 million
in consolidated net sales, which the Company estimates contributed
approximately $0.05 in adjusted diluted earnings per share. Fiscal 2015
net sales growth by business segment, after subtracting the 53rd week of
net sales from the fiscal 2014 periods to align the two periods, was as
follows:

 
(dollars in millions)         Year-Over-Year Change in Net Sales
Fiscal 2014 Fourth Quarter Fiscal 2015     Fiscal 2015
53rd Week Reported     Aligned Basis Reported     Aligned Basis
Segment Net Sales (14 Weeks LY) (13 Weeks LY) (53 Weeks LY) (52 Weeks LY)
 
Carters Retail $ 13.7 2.9 % 7.2 % 5.9 % 7.2 %
Carters Wholesale 19.4 (5.8

)

%

0.7 % 2.4 % 4.3 %
OshKosh Retail 4.8 5.0 % 9.7 % 8.3 % 9.9 %
OshKosh Wholesale 1.9 (21.1

)

%

(13.0

)

%

(10.4

)

%

(7.9

)

%

International 4.3   3.7   % 8.7   % 3.1   % 4.5   %
Consolidated $ 44.1   (0.3

)

%

  5.0   % 4.1   % 5.8   %
 

In the consolidated and segment discussions that follow, the net sales
amounts and related comparisons are based on the Company’s reported
fiscal 2015 and 2014 calendars. However, direct-to-consumer (“DTC”),
retail store, and eCommerce comparable sales metrics are based on 2014
periods that have been aligned to the corresponding 13 and 52 week
periods in fiscal 2015.

Foreign Currency

The appreciation of the U.S. dollar relative to the Canadian dollar
negatively affected the Company’s reported net sales and earnings in
fiscal 2015. The effects of changes in foreign currency exchange rates
(FX) on net sales in fiscal 2015 compared to fiscal 2014 are as follows:

 
(dollars in millions)     Year-Over-Year Change in Net Sales
Fourth Quarter Fiscal 2015     Fiscal 2015
    2015 FX     Constant     2015 FX     Constant
Reported Impact on Currency Reported Impact on Currency
Net Sales Growth Net Sales Growth Growth Net Sales Growth
 
International Segment 3.7 % $ (11.3 ) 15.7   % 3.1   % $ (35.1 ) 14.2   %
Consolidated (0.3

)

%

$ (11.3 ) 1.0 % 4.1 % $ (35.1 ) 5.4 %
 

Consolidated Results

Fourth Quarter of Fiscal 2015 (13 weeks) compared to Fourth Quarter
of Fiscal 2014 (14 weeks)

Consolidated net sales decreased $2.7 million, or 0.3%, to $866.5
million. This decrease reflects declines in the Company’s domestic
wholesale segments, partially offset by growth in its domestic retail
segments and international segment. The 14th week of the fourth quarter
of fiscal 2014 contributed sales of approximately $44.1 million.

Changes in foreign currency exchange rates in the fourth quarter of
fiscal 2015 compared to the fourth quarter of fiscal 2014 negatively
affected consolidated net sales in the fourth quarter of fiscal 2015 by
$11.3 million. On a constant currency basis, consolidated net sales
increased 1.0% in the fourth quarter of fiscal 2015.

Operating income in the fourth quarter of fiscal 2015 increased $2.2
million, or 1.9%, to $116.2 million, compared to $114.0 million in the
fourth quarter of fiscal 2014. Operating margin in the fourth quarter of
fiscal 2015 increased 30 basis points to 13.4%, compared to 13.1% in the
fourth quarter of fiscal 2014. Adjusted operating income (a non-GAAP
measure) in the fourth quarter of fiscal 2015 was $117.1 million,
compared to $116.9 million in the fourth quarter of fiscal 2014.
Adjusted operating margin (a non-GAAP measure) in the fourth quarter of
fiscal 2015 was 13.5%, compared to 13.4% in the fourth quarter of fiscal
2014, reflecting improved gross margin and expense deleverage.

Net income in the fourth quarter of fiscal 2015 increased $4.0 million,
or 5.8%, to $72.6 million, or $1.39 per diluted share, compared to $68.6
million, or $1.29 per diluted share, in the fourth quarter of fiscal
2014. Adjusted net income (a non-GAAP measure) in the fourth quarter of
fiscal 2015 increased $2.6 million, or 3.7%, to $73.2 million, compared
to $70.6 million in the fourth quarter of fiscal 2014. Adjusted earnings
per diluted share (a non-GAAP measure) in the fourth quarter of fiscal
2015 increased 5.5% to $1.40, compared to $1.32 in the fourth quarter of
fiscal 2014. The Company estimates that the consolidated net sales
during the 14th week of the fourth quarter of fiscal 2014 contributed
approximately $0.05 in adjusted diluted earnings per share.

Fiscal 2015 (52 weeks) compared to Fiscal 2014 (53 weeks)

Consolidated net sales increased $120.0 million, or 4.1%, to $3.0
billion. The net sales increase reflects growth in all segments except OshKosh
wholesale. The 53rd week of fiscal 2014 contributed sales of
approximately $44.1 million.

Changes in foreign currency exchange rates in fiscal 2015 compared to
fiscal 2014 negatively affected consolidated net sales in fiscal 2015 by
$35.1 million. On a constant currency basis, consolidated net sales
increased 5.4% in fiscal 2015.

Operating income in fiscal 2015 increased $59.5 million, or 17.9%, to
$392.9 million, compared to $333.3 million in fiscal 2014. Operating
margin in fiscal 2015 increased 150 basis points to 13.0%, compared to
11.5% in fiscal 2014. Adjusted operating income in fiscal 2015 increased
$41.7 million, or 11.6%, to $401.0 million, compared to $359.3 million
in fiscal 2014. Adjusted operating margin in fiscal 2015 increased 90
basis points to 13.3%, compared to 12.4% in fiscal 2014, reflecting
improved gross margin and expense leverage.

Net income in fiscal 2015 increased $43.2 million, or 22.2%, to $237.8
million, or $4.50 per diluted share, compared to $194.7 million, or
$3.62 per diluted share, in fiscal 2014. Adjusted net income in fiscal
2015 increased $32.1 million, or 15.2%, to $243.6 million, compared to
$211.5 million in fiscal 2014. Adjusted earnings per diluted share in
fiscal 2015 increased 17.4% to $4.61, compared to $3.93 in fiscal 2014.
The Company estimates that the consolidated net sales during the 53rd
week of fiscal 2014 contributed approximately $0.05 in adjusted diluted
earnings per share.

Cash flow from operations in fiscal 2015 was $308.0 million compared to
$282.4 million in fiscal 2014. The increase was driven by higher net
income offset in part by unfavorable changes in net working capital.

See the “Reconciliation of GAAP to Adjusted Results” section of this
release for additional disclosures and reconciliations regarding
non-GAAP measures.

Carter’s Retail Segment Results

Fourth Quarter of Fiscal 2015 (13 weeks) compared to Fourth Quarter
of Fiscal 2014 (14 weeks)

Carter’s retail segment sales increased $9.9 million, or 2.9%, to
$351.6 million. Carter’s DTC comparable sales increased 5.7%,
comprised of eCommerce comparable sales growth of 34.4% and a comparable
retail store sales decline of 1.7%. The 14th week of the fourth quarter
of fiscal 2014 contributed sales of approximately $13.7 million.

Fiscal 2015 (52 weeks) compared to Fiscal 2014 (53 weeks)

Carter’s retail segment sales increased $64.1 million, or 5.9%,
to $1.2 billion. Carter’s DTC comparable sales increased 1.2%,
comprised of eCommerce comparable sales growth of 18.9% and a comparable
retail store sales decline of 3.1%. The 53rd week of fiscal 2014
contributed sales of $13.7 million.

During the fourth quarter of fiscal 2015 and fiscal 2015, the Company
believes, based on analysis of credit card transactions and other data,
that Carter’s DTC comparable sales were negatively impacted by
lower demand from international tourists shopping in its U.S. stores and
websites, which was likely influenced by the strength of the U.S. dollar
relative to other global currencies.

As of the end of the fourth quarter of fiscal 2015, the Company operated
594 Carter’s retail stores in the United States.

Carter’s Wholesale Segment Results

Fourth Quarter of Fiscal 2015 (13 weeks) compared to Fourth Quarter
of Fiscal 2014 (14 weeks)

Carter’s wholesale segment sales decreased $17.3 million, or
5.8%, to $283.1 million. The 14th week of the fourth quarter of fiscal
2014 contributed sales of approximately $19.4 million.

Fiscal 2015 (52 weeks) compared to Fiscal 2014 (53 weeks)

Carter’s wholesale segment sales increased $25.8 million, or
2.4%, to $1.1 billion, reflecting increased seasonal product demand, a
new playwear initiative, and favorable replenishment trends. The 53rd
week of fiscal 2014 contributed sales of approximately $19.4 million.

OshKosh Retail Segment Results

Fourth Quarter of Fiscal 2015 (13 weeks) compared to Fourth Quarter
of Fiscal 2014 (14 weeks)

OshKosh retail segment sales increased $5.7 million, or 5.0%, to
$118.3 million. OshKosh DTC comparable sales increased 4.0%,
comprised of eCommerce comparable sales growth of 27.6% and a comparable
retail stores decrease of 2.5%. The 14th week of the fourth quarter of
fiscal 2014 contributed sales of approximately $4.8 million.

Fiscal 2015 (52 weeks) compared to Fiscal 2014 (53 weeks)

OshKosh retail segment sales increased $27.9 million, or 8.3%, to
$363.1 million. OshKosh DTC comparable sales increased 2.4%,
comprised of eCommerce comparable sales growth of 24.0% and a comparable
retail store sales decline of 2.5%. The 53rd week of fiscal 2014
contributed sales of $4.8 million.

During the fourth quarter of fiscal 2015 and fiscal 2015, the Company
believes that OshKosh’s DTC comparable sales were negatively
impacted by lower demand from international tourists shopping in its
U.S. stores and websites, which was likely influenced by the strength of
the U.S. dollar relative to other global currencies.

As of the end of the fourth quarter of fiscal 2015, the Company operated
241 OshKosh retail stores in the United States.

OshKosh Wholesale Segment Results

Fourth Quarter of Fiscal 2015 (13 weeks) compared to Fourth Quarter
of Fiscal 2014 (14 weeks)

OshKosh wholesale segment sales decreased $4.4 million, or 21.1%,
to $16.5 million, reflecting lower seasonal bookings and a decline in
sales to the off-price channel. The 14th week of the fourth quarter of
fiscal 2014 contributed sales of approximately $1.9 million.

Fiscal 2015 (52 weeks) compared to Fiscal 2014 (53 weeks)

OshKosh wholesale segment sales decreased $7.6 million, or 10.4%,
to $65.6 million, reflecting lower seasonal bookings and a decline in
sales to the off-price channel. The 53rd week of fiscal 2014 contributed
sales of approximately $1.9 million.

International Segment Results

Fourth Quarter of Fiscal 2015 (13 weeks) compared to Fourth Quarter
of Fiscal 2014 (14 weeks)

International segment sales increased $3.4 million, or 3.7%, to $97.0
million, principally driven by increased wholesale demand, growth in the
Company’s eCommerce business in Canada, and new eCommerce sales
in China, partially offset by unfavorable foreign currency exchange
rates and the impact of the Target Canada bankruptcy in early 2015. The
14th week of the fourth quarter of fiscal 2014 contributed sales of
approximately $4.3 million.

Changes in foreign currency exchange rates in the fourth quarter of
fiscal 2015 as compared to the fourth quarter of fiscal 2014 negatively
affected international segment net sales in the fourth quarter of fiscal
2015 by $11.3 million. On a constant currency basis, international
segment net sales increased 15.7%.

Canadian comparable retail store sales increased 11.9% in the fourth
quarter of fiscal 2015, reflecting increased traffic and pricing
improvements.

Fiscal 2015 (52 weeks) compared to Fiscal 2014 (53 weeks)

International segment sales increased $9.7 million, or 3.1%, to $326.2
million. This increase reflects growth in the Company’s DTC business in
Canada, increased wholesale demand in other international markets, and
new eCommerce sales in China. This growth was partially offset by
unfavorable foreign currency exchange rates, the impact of the Target
Canada bankruptcy, and the Company’s exit from retail operations in
Japan in fiscal 2014. The 53rd week of fiscal 2014 contributed sales of
approximately $4.3 million.

Changes in foreign currency exchange rates in fiscal 2015 as compared to
fiscal 2014 negatively affected international net sales in fiscal 2015
by $35.1 million. On a constant currency basis, international segment
net sales increased 14.2%.

The Company’s former retail operations in Japan contributed $4.4 million
in net sales in fiscal 2014.

Canadian comparable retail store sales increased 6.4% in fiscal 2015,
reflecting higher customer conversion and pricing improvements.

As of the end of the fourth quarter of fiscal 2015, the Company operated
147 retail stores in Canada.

2016 Business Outlook

For fiscal 2016, the Company projects net sales to increase
approximately 6% to 7% over fiscal 2015 and adjusted diluted earnings
per share to increase approximately 8% to 10% compared to adjusted
diluted earnings per share of $4.61 in fiscal 2015. This forecast for
fiscal 2016 adjusted earnings per share excludes anticipated expenses of
approximately $1.7 million related to the amortization of acquired
tradenames and other items the Company believes to be non-representative
of underlying business performance.

For the first quarter of fiscal 2016, the Company projects net sales to
increase approximately 4% over the first quarter of fiscal 2015 and
adjusted diluted earnings per share to be comparable to adjusted diluted
earnings per share of $0.97 in the first quarter of fiscal 2015. This
forecast for first quarter fiscal 2016 adjusted earnings per share
excludes anticipated expenses of approximately $1.0 million related to
the amortization of acquired tradenames and other items the Company
believes to be non-representative of underlying business performance.

Expanded Return of Capital Initiatives

As part of the Company’s ongoing commitment to return capital to
shareholders, the Company’s Board of Directors on February 24, 2016
authorized a new $500 million share repurchase program and approved a
50% increase ($0.11 per share) to its quarterly cash dividend, to $0.33
per share, for payment on March 25, 2016, to shareholders of record at
the close of business on March 11, 2016.

The Company is evaluating its capital structure, including the
opportunity to increase its leverage in order to improve capital
efficiency and provide capacity for the return of capital to
shareholders over time.

Over the past three years the Company has returned $761 million to
shareholders through cash dividends and share repurchases and $902
million since becoming a public company in 2003.

The share repurchase authorization announced today permits the Company
to repurchase shares of its common stock up to $500 million, in addition
to approximately $58 million remaining under previous authorizations.
Such purchases may be made in the open market or in privately negotiated
transactions, with the level and timing of activity being at the
discretion of the Company’s management depending on market conditions,
stock price, other investment priorities, and other factors. These share
repurchase authorizations have no expiration date.

Future declarations of quarterly dividends and the establishment of
related record and payment dates will be at the discretion of the
Company’s Board of Directors based on a number of factors, including the
Company’s future financial performance and other considerations.

Dividends

During the fourth quarter of fiscal 2015, the Company paid a cash
dividend of $0.22 per share totaling $11.4 million. The Company paid
cash dividends totaling $46.0 million in fiscal 2015.

Stock Repurchase Activity

During the fourth quarter of fiscal 2015, the Company repurchased and
retired 359,263 shares of its common stock for $32.0 million at an
average price of $88.94 per share. During fiscal 2015, the Company
repurchased and retired 1.2 million shares for $110.3 million at an
average price of $95.55 per share. Year-to-date through February 24,
2016, the Company has repurchased and retired a total of 183,564 shares
for $16.7 million at an average price of $91.03 per share. All shares
were repurchased in open market transactions pursuant to applicable
regulations for open market share repurchases.

Conference Call

The Company will hold a conference call with investors to discuss fourth
quarter and fiscal 2015 results and its business outlook on February 25,
2016 at 8:30 a.m. Eastern Standard Time. To participate in the call,
please dial 913-981-5518. To listen to a live broadcast of the call on
the internet, please visit http://www.carters.com and select the “Fourth
Quarter 2015 Earnings Conference Call” link under the “Investor
Relations” tab. Presentation materials for the call can be accessed
under the same tab by selecting links for “News & Events” followed by
“Webcasts & Presentations”. A replay of the call will be available
shortly after the broadcast through March 4, 2016, at 888-203-1112 (U.S.
/ Canada) or 719-457-0820 (international), passcode 220283. The replay
will also be archived on the Company’s website under the “Investor
Relations” tab.

About Carter’s, Inc.

Carter’s, Inc. is the largest branded marketer in the United States and
Canada of apparel and related products exclusively for babies and young
children. The Company owns the Carter’s and OshKosh B’gosh
brands, two of the most recognized brands in the marketplace. These
brands are sold in leading department stores, national chains, and
specialty retailers domestically and internationally. They are also sold
through nearly 1,000 Company-operated stores in the United States and
Canada and online at http://www.carters.com, http://www.oshkoshbgosh.com, and
http://www.cartersoshkosh.ca. The Company’s Just One You, Precious
Firsts
, and Genuine Kids brands are available at Target, and
its Child of Mine brand is available at Walmart. Carter’s is
headquartered in Atlanta, Georgia. Additional information may be found
at http://www.carters.com.

Cautionary Language

This press release contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 relating to the Company’s future
performance, including, without limitation, statements with respect to
the Company’s anticipated financial results for the first quarter of
fiscal 2016 and fiscal year 2016, or any other future period, assessment
of the Company’s performance and financial position, and drivers of the
Company’s sales and earnings growth. Such statements are based on
current expectations only, and are subject to certain risks,
uncertainties, and assumptions. Should one or more of these risks or
uncertainties materialize or not materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from
those anticipated, estimated, or projected. Certain of the risks and
uncertainties that could cause actual results and performance to differ
materially are described in the Company’s most recently filed Annual
Report on Form 10-K and other reports filed with the Securities and
Exchange Commission from time to time under the headings “Risk Factors”
and “Forward-Looking Statements.” Included among the risks and
uncertainties that may impact future results are the risks of: losing
one or more major customers, vendors, or licensees, due to competition,
inadequate quality of the Company’s products, or otherwise; financial
difficulties for one or more of the Company’s major customers, vendors,
or licensees, or an overall decrease in consumer spending; our products
not being accepted in the marketplace, due to quality concerns, changes
in consumer preference and fashion trends, or otherwise; negative
publicity, including as a result of product recalls or otherwise;
failing to protect the Company’s intellectual property; various types of
litigation, including class action litigation brought under various
consumer protection, employment, and privacy and information security
laws; a breach of the Company’s consumer databases, systems or
processes; the risk of slow-downs, disruptions or strikes along the
Company’s supply chain, including disruptions resulting from foreign
supply sources, the Company’s distribution centers or in-sourcing
capabilities; and unsuccessful expansion into international markets or
failure to successfully manage legal, regulatory, political and economic
risks of the Company’s existing international operations, including
maintaining compliance with worldwide anti-bribery laws; and an
inability to obtain additional financing on favorable terms. The Company
does not undertake any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.

 

CARTER’S, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(dollars in thousands, except for share data)

(unaudited)

 
        For the fiscal quarters ended       For the fiscal years ended
January 2,       January 3, January 2,       January 3,
2016 2015 2016

2015

(13 weeks) (14 weeks) (52 weeks) (53 weeks)
Net sales $ 866,544 $ 869,224 $ 3,013,879 $ 2,893,868
Cost of goods sold 503,006   513,192   1,755,855   1,709,428  
Gross profit 363,538 356,032 1,258,024 1,184,440
Selling, general, and administrative expenses 258,737 251,902 909,233 890,251
Royalty income (11,378 ) (9,880 ) (44,066 ) (39,156 )
Operating income 116,179 114,010 392,857 333,345
Interest expense 6,497 7,030 27,031 27,653
Interest income (115 ) (86 ) (500 ) (403 )
Other (income) expenses, net (1,302 ) 1,472   (1,862 ) 3,189  
Income before income taxes 111,099 105,594 368,188 302,906
Provision for income taxes 38,500   37,004   130,366   108,236  
Net income $ 72,599   $ 68,590   $ 237,822   $ 194,670  
 
Basic net income per common share $ 1.40 $ 1.30 $ 4.55 $ 3.65
Diluted net income per common share $ 1.39 $ 1.29 $ 4.50 $ 3.62
Dividend declared and paid per common share $ 0.22 $ 0.19 $ 0.88 $ 0.76
 
 

CARTER’S, INC.

BUSINESS SEGMENT RESULTS

(dollars in thousands)

(unaudited)

 
        For the fiscal quarters ended             For the fiscal years ended
January 2,    

 

      January 3,    

 

January 2,      

 

     

January 3,

     

 

2016

% of

2015

% of

2016

% of

2015

% of

(13 weeks)

total sales

(14 weeks)

total sales

(13 weeks)

total sales

(14 weeks)

total sales

Net sales:

Carter’s Retail (a) $ 351,633 40.6 % $ 341,692 39.3 % $ 1,151,268 38.2 % $ 1,087,165 37.6 %
Carter’s Wholesale   283,106 32.7 %   300,428 34.6 % 1,107,706   36.8 % 1,081,888   37.4 %
Total Carter’s   634,739 73.3 %   642,120 73.9 % 2,258,974   75.0 % 2,169,053   75.0 %
OshKosh Retail (a) 118,300 13.7 % 112,640 13.0 % 363,087 12.0 % 335,140 11.6 %
OshKosh Wholesale   16,456 1.9 %   20,859 2.4 % 65,607   2.2 % 73,201   2.5 %
Total OshKosh   134,756 15.6 %   133,499 15.4 % 428,694   14.2 % 408,341   14.1 %
International (b)   97,049 11.1 %   93,604 10.7 % 326,211   10.8 % 316,474   10.9 %
Total net sales $ 866,544 100.0 % $ 869,223 100.0 % $ 3,013,879   100.0 % $ 2,893,868   100.0 %
 
Operating Operating Operating Operating

Operating income (loss):

margin

margin margin margin
Carter’s Retail (a) $ 64,483 18.3 % $ 73,638 21.6 % $ 199,040 17.3 % $ 211,297 19.4 %
Carter’s Wholesale   60,012 21.2 %   51,974 17.3 % 232,497   21.0 % 185,463   17.1 %
Total Carter’s   124,495 19.6 %   125,612 19.6 % 431,537   19.1 % 396,760   18.3 %
OshKosh Retail (a) 8,535 7.2 % 9,093 8.1 % 11,931 3.3 % 8,210 2.4 %
OshKosh Wholesale   3,555 21.6 %   3,717 17.8 % 13,270   20.2 % 8,842   12.1 %
Total OshKosh   12,090 9.0 %   12,810 9.6 % 25,201   5.9 % 17,052   4.2 %
International (b) (c) 16,037 16.5 % 12,431 13.3 % 47,004   14.4 % 39,470   12.5 %
Corporate expenses (d) (e)  

(36,443

)

 

(36,843

)

(110,885 ) (119,937 )
Total operating income $ 116,179 13.4 % $ 114,010 13.1 % $ 392,857   13.0 % $ 333,345   11.5 %
 

Contacts

Carter’s, Inc.
Sean McHugh, 678-791-7615
Vice President &
Treasurer

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