Carter's Q2 Outlook: Expects Net Sales of $560M-$570M Vs. $613M Consensus; Sees Adjusted EPS of $0.35-$0.45 Vs. $0.80 Consensus
Portfolio Pulse from Benzinga Newsdesk
Carter's projects Q2 fiscal 2024 net sales of $560M-$570M, below the $613M consensus, and adjusted EPS of $0.35-$0.45, under the $0.80 consensus. The forecast reflects inflationary pressures, a slow start to Spring selling, improved gross margin, comparable SG&A, lower net interest expense and effective tax rate, and continued capital return.
April 26, 2024 | 10:21 am
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Carter's anticipates lower Q2 fiscal 2024 sales and earnings than expected, with net sales of $560M-$570M vs. $613M consensus and adjusted EPS of $0.35-$0.45 vs. $0.80 consensus.
Carter's lower-than-expected Q2 fiscal 2024 outlook is likely to negatively impact investor sentiment and stock price in the short term. The company's projection of sales and earnings below consensus reflects challenges such as inflationary pressures and a slow start to the Spring selling season, which are critical factors that investors consider when assessing the company's performance and future prospects.
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