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Carter's drops after light guidance

Published 04/26/2018, 09:37 AM
© Reuters.  Carter's drops after light guidance
CRI
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  • Carter's (CRI -4.3%) trades lower despite topping Q1 estimates as investors latch on to the retailer's weak profit guidance.
  • The company expects Q2 EPS of $0.53 vs. $0.92 consensus and full-year EPS of $6.46 vs. $6.63 consensus.
  • "The Toys “R” Us store closures will affect the growth of our wholesale sales this year. Longer term, we believe Carter’s is uniquely positioned to recapture lost sales to Toys “R” Us given our presence in over 18,000 retail store locations in the United States and leading website in branded children’s apparel," says Carter's CEO Michael Casey.
  • Previously: Carter's beats by $0.11, beats on revenue (April 26)
  • Now read: Spectrum Brand -19% on earnings miss


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