Carter's Q2 Revenue Miss Estimates As Macroeconomic Factors Affect Demand
Portfolio Pulse from Shivani Kumaresan
Carter's Inc (NYSE:CRI) reported a Q2 FY23 sales decline of 14.3% YoY to $600.20 million, missing the analyst consensus of $603.51 million. The decline was attributed to macroeconomic factors such as inflation, higher interest rates, and consumer debt levels. The company's adjusted EPS of $0.64 beat the analyst consensus of $0.53. Carter's revised its FY23 sales outlook from $3 billion to $2.95 billion-$3 billion and adjusted EPS guidance from $6.15 to $5.95-$6.15.
July 28, 2023 | 5:36 pm
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Carter's reported lower than expected Q2 FY23 sales due to macroeconomic factors. However, the company's adjusted EPS beat the analyst consensus. The company also revised its FY23 sales outlook.
Carter's reported lower than expected sales for Q2 FY23 due to macroeconomic factors, which could negatively impact investor sentiment. However, the company's adjusted EPS beat the analyst consensus, which could offset some of the negative impact. The company also revised its FY23 sales outlook, which could lead to uncertainty among investors.
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