Carter's Inc. Files Q3 2024 10-Q Report
Ticker: CRI · Form: 10-Q · Filed: Oct 25, 2024 · CIK: 1060822
Sentiment: neutral
Topics: 10-Q, quarterly-report, apparel
TL;DR
Carter's Q3 10-Q is in. Check financials for apparel performance.
AI Summary
Carter's Inc. filed its 10-Q for the period ending September 28, 2024. The filing covers the third quarter of their fiscal year. Key financial data and operational details for this period are presented, reflecting the company's performance in the apparel sector.
Why It Matters
This report provides investors and analysts with a detailed look at Carter's financial health and operational performance during the third quarter, influencing investment decisions and market sentiment.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Players & Entities
- CARTERS INC (company) — Filer
- 0001060822-24-000155 (other) — Accession Number
- 20240928 (date) — Period of Report
- 20241025 (date) — Filing Date
- 30326 (other) — ZIP Code
FAQ
What is the reporting period for this 10-Q filing?
The 10-Q filing is for the period ending September 28, 2024.
What is the company's Central Index Key (CIK)?
The CIK for Carter's Inc. is 0001060822.
What is the company's Standard Industrial Classification (SIC) code?
The SIC code is 2300, categorized under APPAREL & OTHER FINISHED PRODS OF FABRICS & SIMILAR MATERIAL.
What is the filing date of this 10-Q report?
This 10-Q report was filed on October 25, 2024.
What is the state of incorporation for Carter's Inc.?
Carter's Inc. is incorporated in Delaware (DE).
Filing Stats: 4,767 words · 19 min read · ~16 pages · Grade level 15.1 · Accepted 2024-10-25 12:05:00
Key Financial Figures
- $0.01 — ich Registered Common stock, par value $0.01 per share CRI New York Stock Exchange
- $500 million — 4 December 30, 2023 September 30, 2023 $500 million 5.625 % senior notes due March 15, 2027
Filing Documents
- cri-20240928.htm (10-Q) — 1327KB
- cri-20240928exh311.htm (EX-31.1) — 8KB
- cri-20240928exh312.htm (EX-31.2) — 8KB
- cri-20240928exh320.htm (EX-32) — 6KB
- 0001060822-24-000155.txt ( ) — 5875KB
- cri-20240928.xsd (EX-101.SCH) — 31KB
- cri-20240928_cal.xml (EX-101.CAL) — 58KB
- cri-20240928_def.xml (EX-101.DEF) — 108KB
- cri-20240928_lab.xml (EX-101.LAB) — 458KB
- cri-20240928_pre.xml (EX-101.PRE) — 307KB
- cri-20240928_htm.xml (XML) — 917KB
Financial Information
Part I. Financial Information Page Item 1
Financial Statements
Financial Statements Unaudited Condensed Consolidated Balance Sheets as of September 28, 2024, December 30, 2023 and September 30, 2023 1 Unaudited Condensed Consolidated Statements of Operations for the fiscal quarter and three fiscal quarters ended September 28, 2024 and September 30, 2023 2 Unaudited Condensed Consolidated Statements of Comprehensive Income for the fiscal quarter and three fiscal quarters ended September 28, 2024 and September 30, 2023 3 Unaudited Condensed Consolidated Statements of Changes in Shareholders' Equity for the fiscal quarters ended September 28, 2024, June 29, 2024, March 30, 2024, September 30, 2023, July 1, 2023 and April 1, 2023 4 Unaudited Condensed Consolidated Statements of Cash Flows for the three fiscal quarters ended September 28, 2024 and September 30, 2023 6 Notes to the Unaudited Condensed Consolidated Financial Statements 7 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 15 Item 3
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 30 Item 4
Controls and Procedures
Controls and Procedures 30
Other Information
Part II. Other Information Item 1
Legal Proceedings
Legal Proceedings 32 Item 1A
Risk Factors
Risk Factors 32 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3 Defaults upon Senior Securities 32 Item 4 Mine Safety Disclosures 32 Item 5 Other Information 32 Item 6 Exhibits 33
Signatures
Signatures 34 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) September 28, 2024 December 30, 2023 September 30, 2023 ASSETS Current assets: Cash and cash equivalents $ 175,536 $ 351,213 $ 169,106 Accounts receivable, net of allowance for credit losses of $ 8,303 , $ 4,754 , and $ 6,741 , respectively 247,013 183,774 240,507 Finished goods inventories, net of inventory reserves of $ 17,135 , $ 8,990 , and $ 19,014 , respectively 607,384 537,125 620,669 Prepaid expenses and other current assets 41,577 29,131 37,604 Total current assets 1,071,510 1,101,243 1,067,886 Property, plant, and equipment, net of accumulated depreciation of $ 642,420 , $ 615,907 , and $ 605,857 , respectively 182,292 183,111 180,888 Operating lease assets 560,246 528,407 506,010 Tradenames, net 298,053 298,186 298,230 Goodwill 209,384 210,537 209,494 Customer relationships, net 24,440 27,238 28,087 Other assets 32,460 29,891 29,211 Total assets $ 2,378,385 $ 2,378,613 $ 2,319,806 LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities: Accounts payable $ 273,909 $ 242,149 $ 222,210 Current operating lease liabilities 130,140 135,369 135,865 Other current liabilities 80,059 134,344 106,122 Total current liabilities 484,108 511,862 464,197 Long-term debt, net 497,930 497,354 567,168 Deferred income taxes 48,890 41,470 41,217 Long-term operating lease liabilities 485,613 448,810 427,280 Other long-term liabilities 32,504 33,867 34,633 Total liabilities $ 1,549,045 $ 1,533,363 $ 1,534,495 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; 36,038,814 , 36,551,221 , and 36,969,967 shares issued and outstanding, respectively 360 366 370 Additional paid-in capital — — — Accumul