Carter's Is Bawling as Its Stock Drops 12%
Shares of Carter's (NYSE: CRI) were down 12% at noon EST on Friday after the infant and children's apparel maker reported fourth-quarter results that missed analyst estimates along with first-quarter and full-year 2021 guidance that wildly undershot the consensus view.
Although exclusive-brand sales to Amazon, Target, and Walmart grew 13% from the year-ago period, net sales were down 10% to $990 million even though there was an extra selling week in the quarter. That missed forecasts of $1.06 billion.
Adjusted per-share profits also declined 12% to $2.46, missing the consensus estimate of $2.73 per share. The outlook for the coming quarter and year wasn't any better.
Source Fool.com
