Carter's Inc. Files 10-Q for Period Ending March 30, 2024

TL;DR

<b>Carter's Inc. filed its quarterly report (10-Q) for the period ending March 30, 2024, detailing its financial performance and operations.</b>

AI Summary

CARTERS INC (CRI) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. Carter's Inc. filed a 10-Q report for the period ending March 30, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 28. The filing was made on April 26, 2024. The company's principal executive offices are located in Atlanta, GA.

Why It Matters

For investors and stakeholders tracking CARTERS INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial data and operational updates for Carter's Inc. for the first quarter of fiscal year 2024. Understanding the details within this report is crucial for assessing the company's current financial health, performance trends, and future outlook in the apparel industry.

Risk Assessment

Risk Level: low — CARTERS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical reporting.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to identify any emerging trends or risks.

Key Numbers

• 2024-03-30 — Period End Date (Quarterly report period)
• 2024-04-26 — Filing Date (Date the report was filed)
• 12/28 — Fiscal Year End (Company's fiscal year end date)
• 2024 — Fiscal Year (Current fiscal year)

Key Players & Entities

• CARTERS INC (company) — Filer name
• 0001060822 (company) — Central Index Key
• 20240330 (date) — Period of report
• 20240426 (date) — Filing date
• 30326 (location) — Business ZIP code
• 678-399-1000 (phone) — Business phone
• DE (location) — State of incorporation
• ATLANTA (location) — City of business address

FAQ

Industry Context

Carter's Inc. operates in the apparel industry, specifically focusing on children's clothing. This sector is influenced by consumer spending, fashion trends, and seasonal demand.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file quarterly reports (10-Q) to disclose financial and operational information.

What Investors Should Do

1. Analyze the revenue breakdown by segment (Retail, Wholesale, International) if available in the full filing.
2. Examine any disclosed changes in inventory levels or cost of goods sold.
3. Review management's discussion and analysis (MD&A) for insights into performance drivers and outlook.

Key Dates

• 2024-03-30: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-04-26: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal quarter ending March 30, 2024. Comparative data from the previous year's quarter will be detailed within the report.

Key Financial Figures

• $0.01 — ich Registered Common stock, par value $0.01 per share CRI New York Stock Exchange
• $500 million — , 2024 December 30, 2023 April 1, 2023 $500 million 5.625 % Senior Notes due 2027 $ 500,00

Filing Documents

• cri-20240330.htm (10-Q) — 854KB
• formofrestrictedstockaward.htm (EX-10.1) — 37KB
• formofrtsrperformanceaward.htm (EX-10.2) — 74KB
• formofcompanyperformanceaw.htm (EX-10.3) — 108KB
• cri-20240330exh311.htm (EX-31.1) — 8KB
• cri-20240330exh312.htm (EX-31.2) — 9KB
• cri-20240330exh320.htm (EX-32) — 6KB
• 0001060822-24-000113.txt (&nbsp;) — 4819KB
• cri-20240330.xsd (EX-101.SCH) — 31KB
• cri-20240330_cal.xml (EX-101.CAL) — 59KB
• cri-20240330_def.xml (EX-101.DEF) — 91KB
• cri-20240330_lab.xml (EX-101.LAB) — 406KB
• cri-20240330_pre.xml (EX-101.PRE) — 273KB
• cri-20240330_htm.xml (XML) — 600KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements Unaudited Condensed Consolidated Balance Sheets as of March 30, 2024, December 30, 2023, and April 1, 2023 1 Unaudited Condensed Consolidated Statements of Operations for the fiscal quarter ended March 30, 2024 and April 1, 2023 2 Unaudited Condensed Consolidated Statements of Comprehensive Income for the fiscal quarter ended March 30, 2024 and April 1, 2023 3 Unaudited Condensed Consolidated Statements of Changes in Shareholders' Equity for the fiscal quarter ended March 30, 2024 and April 1, 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows for the fiscal quarter ended March 30, 2024 and April 1, 2023 5 Notes to the Unaudited Condensed Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 22 Item 4.

Controls and Procedures

Controls and Procedures 22

Other Information

Part II. Other Information Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 23 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 23 Item 3. Defaults upon Senior Securities 23 Item 4. Mine Safety Disclosures 23 Item 5. Other Information 23 Item 6. Exhibits 24

Signatures

Signatures 25 Certifications

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS CARTER'S, INC. CONDENSED CONSOLIDATED BALANCE SHEETS ( dollars in thousands, except per share data ) (unaudited) March 30, 2024 December 30, 2023 April 1, 2023 ASSETS Current assets: Cash and cash equivalents $ 267,575 $ 351,213 $ 157,685 Accounts receivable, net of allowance for credit losses of $ 5,159 , $ 4,754 , and $ 7,425 , respectively 224,075 183,774 223,939 Finished goods inventories, net of inventory reserves of $ 11,018 , $ 8,990 , and $ 18,076 , respectively 473,362 537,125 613,921 Prepaid expenses and other current assets 51,775 29,131 47,173 Total current assets 1,016,787 1,101,243 1,042,718 Property, plant, and equipment, net of accumulated depreciation of $ 628,627 , $ 615,907 , and $ 577,183 , respectively 182,513 183,111 180,383 Operating lease assets 522,192 528,407 494,969 Tradenames, net 298,141 298,186 298,331 Goodwill 209,733 210,537 209,601 Customer relationships, net 26,383 27,238 29,801 Other assets 29,769 29,891 27,524 Total assets $ 2,285,518 $ 2,378,613 $ 2,283,327 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 191,406 $ 242,149 $ 180,181 Current operating lease liabilities 133,190 135,369 139,350 Other current liabilities 94,361 134,344 91,104 Total current liabilities 418,957 511,862 410,635 Long-term debt, net 497,543 497,354 576,803 Deferred income taxes 48,090 41,470 46,090 Long-term operating lease liabilities 444,375 448,810 417,012 Other long-term liabilities 35,200 33,867 34,894 Total liabilities $ 1,444,165 $ 1,533,363 $ 1,485,434 Commitments and contingencies - Note 13 Shareholders' equity: Preferred stock; par value $ 0.01 per share; 100,000 shares authorized; none issued or outstanding $ — $ — $ — Common stock, voting; par value $ 0.01 per share; 150,000,000 shares authorized; 36,600,032 , 36,551,221 , and 37,799,251 shares issued and outstanding, respectively 366 366 378 Additional paid-in capital — — — Accumulated ot

View Full Filing

View this 10-Q filing on SEC EDGAR