Carter's Inc reported its fourth quarter and fiscal 2006 results.
Fourth Quarter of Fiscal 2006 compared to Fourth Quarter of Fiscal 2005: Consolidated net sales increased 7.7% to $377.5 million. Net sales of the Company's Carter's brands increased 14.5% to $282.7 million. Net sales of the Company's OshKosh brand decreased 8.5% to $94.8 million.
The Company's wholesale sales increased 12.8% to $156.0 million. Carter's wholesale sales, excluding off-price sales of $9.6 million in 2006 and $7.0 million in 2005, increased 19.9% to $125.0 million. OshKosh wholesale sales, excluding off-price sales of $1.6 million in 2006 and $6.5 million in 2005, decreased 3.4% to $19.8 million.
The Company's mass channel sales, which are comprised of sales of its Child of Mine brand to Wal-Mart and Just One Year brand to Target, increased 16.7% to $49.0 million.
Retail store sales increased 1.3% to $172.4 million. Carter's retail store sales increased 5.9% to $99.1 million. This increase was driven by sales from new Carter's stores opened in fiscal 2006, partially offset by a comparable store sales decrease of 1.6%. OshKosh retail store sales decreased 4.2% to $73.3 million due to a comparable store sales decrease of 6.7%, partially offset by sales from new store openings.
In the fourth quarter of fiscal 2006, the Company opened 15 Carter's retail stores and 11 OshKosh retail stores. The Company also closed one Carter's retail store. As of December 30, 2006, the Company had 219 Carter's retail stores and 157 OshKosh retail stores.
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