Largest children's & baby's branded apparel marketer Carter's reported its second quarter results for fiscal 2005.
Net sales in the second quarter of fiscal 2005 increased $36.2 million, or 23%, to $192.5 million from $156.3 million in the second quarter of fiscal 2004. The increase in net sales for the second quarter of fiscal 2005 includes a $12.5 million, or 17%, increase in sales in the wholesale channel from $73.5 million to $86.0 million and a $16.2 million, or 71%, increase in sales in the mass channel from $22.8 million to $39.0 million.
The Company's retail store sales in the second quarter of fiscal 2005 increased $7.5 million, or 13%, to $67.5 million from $60.0 million in the second quarter of fiscal 2004 due to an increase of 7.1% in comparable store sales and incremental sales from 11 new store openings since July 3, 2004.
As of July 2, 2005, Carter's had a total of 185 retail stores, including four stores opened during the second quarter of fiscal 2005.
Net income in the second quarter of fiscal 2005 decreased $0.5 million to $5.5 million, or $0.18 per diluted share, from $5.9 million, or $0.20 per diluted share, in the second quarter of fiscal 2004. This decrease was driven by after-tax charges of $3.3 million associated with the closure of two sewing facilities in Mexico.
Excluding these charges, pro forma net income in the second quarter of fiscal 2005 increased 48% to $8.8 million, or $0.29 per diluted share.
marketing@alchempro.com
