Why Carter's Stock Popped Today
Shares of baby and childrens apparel retailer Carter's (NYSE: CRI) jumped as much as 14% Friday morning, before settling back to a gain of 6.7% as of 10:30 a.m. EDT. The company announced first-quarter 2021 earnings this morning, and there were several items for investors to be happy about.
Carter's said it earned an adjusted $1.98 per share, compared to the prior-year period when it lost $0.81 at the onset of the pandemic. Carter's chairman and CEO Michael D. Casey said in a statement the company realized growth in each of its retail, wholesale, and international business segments, resulting in "meaningfully" exceeding its own expectations. For investors, another highlight was the company announcing it was reinstating a dividend that it suspended a year ago.
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Source Fool.com
