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Carter's profit beats on better margins
July 25, 2012 / 11:07 AM / 5 years ago

Carter's profit beats on better margins

* Q2 adj EPS $0.37 vs est $0.30

* Sales rise 20 pct to $472 mln

July 25 (Reuters) - Children’s clothing company Carter’s Inc reported quarterly profit ahead of market expectations, helped by higher gross margins.

Carter’s said it expects adjusted earnings for the full year to increase about 20 to 25 percent from the $2.09 per share profit it reported a year earlier.

The company, which owns retail stores and sells its merchandise through discounters such as Wal-Mart Stores Inc and Target Corp, said it expects net sales for 2012 to rise 9 to 11 percent from fiscal 2011.

Earnings for the quarter rose to $20.8 million, or 35 cents per share, from $12.7 million, or 22 cents per share, a year earlier.

Excluding one-off costs, the company earned 37 cents.

Sales rose 20 percent to $472 million.

Analysts on average expected earnings of 30 cents per share on revenue of $474.1 million, according to Thomson Reuters I/B/E/S.

Carter’s shares closed at $52.14 on Tuesday on the New York Stock Exchange. (Reporting by Juhi Arora in Bangalore; Editing by Viraj Nair)

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