- Carter’s Inc (NYSE:CRI) reported a second-quarter FY22 sales decline of 6.1% year-on-year to $700.7 million, missing the consensus of $744.31 million.
- The U.S. retail sales fell 11% Y/Y, U.S. wholesale shed 3%, and the international segment sales grew 7%.
- The gross profit decreased 10.2% Y/Y to $331.2 million with a profit margin of 47.3%.
- The adjusted operating margin decreased 400 basis points to 10.8%, and adjusted operating income for the quarter fell 31.7% to $75.4 million.
- The company held $231.3 million in cash and equivalents as of July 2, 2022.
- Adjusted EPS of $1.30 missed the analyst consensus of $1.61.
- Outlook: Carter sees FY22 sales of $3.25 billion – $3.30 billion, below the consensus of $3.52 billion.
- The company expects FY22 adjusted EPS of $7.10 – $7.60 versus the consensus of $8.23.
- For Q3, it expects sales of $850 million – $865 million, below the Street view of $910.98 million. Adjusted EPS of $1.50 – $1.70, against the consensus of $2.17.
- Price Action: CRI shares are trading higher by 0.27% at $81.56 on the last check Friday.
Crown Electrokinetics Provides Update On Nasdaq Listing Status; Co. Has A Requested A Hearing Before A Nasdaq Hearings Panel
Crown Electrokinetics Corp. (NASDAQ:CRKN) ("Crown" or the "Company"), a leading smart glass technology company and an expert in both designing and installing distributed antenna systems (DAS) and
