Fred Rowan, Chairman of the Board of Directors and Chief Executive Officer of Carter's said, "They continue to experience strong results in all channels of distribution because of their focus on essential core products and superior execution. They are very excited about the acquisition of OshKosh B'Gosh Inc.
This acquisition brings together two of America's most trusted children's apparel brands with annual sales of approximately $1.3 billion. There is tremendous potential to be realized by leveraging their proven brand management and supply chain skills which they believe will result in significant long-term value for their shareholders, customers, and consumers.
Net sales in the first six months of fiscal 2005 increased 18%, or $59.7 million, to $398.7 million from $339.0 million in the first six months of fiscal 2004. In their wholesale channel, net sales increased $20.9 million, or 13%, in the first six months of fiscal 2005 to $185.0 million from $164.1 million in the first six months of fiscal 2004.
Net sales to the mass channel in the first six months of fiscal 2005 increased $22.7 million, or 41%, to $78.4 million from $55.7 million in the first six months of fiscal 2004. This increase reflects growth in sales of their Child of Mine brand to Wal-Mart, including their newborn playwear product category, and increased sales of their Just One Year brand to Target.
The Company's retail store sales in the first six months of fiscal 2005 increased $16.0 million, or 13%, to $135.3 million from $119.2 million in the first six months of fiscal 2004 due to incremental sales from new store openings and a comparable store sales increase of 7.9%. During the first six months of fiscal 2005, the Company opened five stores.
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