OshKosh retail store sales of $62.8 million were comparable to last year and included $3.3 million of sales from new stores, partially offset by a comparable store sales decrease of $3.1 million, or 5.0%.
In the third quarter of fiscal 2007, the Company opened one Carter's retail store and three OshKosh retail stores. As of September 29, 2007, the Company had 222 Carter's and 162 OshKosh retail stores.
In the fourth quarter, the Company plans to open seven Carter's and three OshKosh retail stores resulting in a total of ten store openings for Carter's and eight store openings for OshKosh in fiscal 2007.
For the third quarter of fiscal 2007, the Company's net income was $34.6 million, or $0.58 per diluted share, compared to net income of $35.0 million, or $0.57 per diluted share, in the third quarter of fiscal 2006.
"Despite a very challenging retail environment, our results for the third quarter were consistent with our expectations," noted Fred Rowan, Chairman and CEO. "We expect the market will continue to be difficult given the macroeconomic concerns impacting consumers. Accordingly, we continue to have a cautious outlook for the balance of the year.
"We're fortunate to own two of the strongest brands in young children's apparel, marketed to the best performing retailers in the country," added Mr. Rowan.
"We believe our multiple brand and channel growth strategies, together with the significant investments made in 2007 in talent, product competitiveness, branding, and consumer research, will enable us to deliver better performance for our shareholders in 2008."
marketing@alchempro.com
