Carter's, Inc. (CRI), a baby and children's clothing company, Tuesday announced a sharp fall in fourth quarter earnings, compared to the prior year.
For the fourth quarter, net income declined to $61.52 million from $106.51 million last year.
Earnings per share were $1.71, down from $2.90 million in the previous year's quarter.
Adjusted net income declined to $84.10 million from $99.23 million prior year.
Adjusted earnings per share were $2.39 versus $2.76 last year.
Analysts, on average, had expected the company to earn $1.92 per share. Analysts' estimates typically exclude special items.
Net sales increased 0.2 percent to $859.71 million from $857.86 million the prior year.
For the first quarter, net sales are expected to range between $615 million to $625 million.
The adjusted operating income is expected to range between $30 million to $35 million.
The adjusted earnings per share is anticipated to range between $0.45 to $0.55.
For fiscal year 2025, net sales are expected to range between $2.780 billion to $2.855 billion.
The adjusted operating income is expected to range between $180 million to $210 million.
The adjusted earnings per share is anticipated to range between $3.20 to $3.80.
In the pre-market trading, Carter's is 48.78% lesser at $6.30 on the New York Stock Exchange.
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