In the fourth quarter of fiscal 2015 which had 14 weeks, net sales at kids apparel retailer, Carter’s, Inc rose 12.9 per cent from the fourth quarter of fiscal 2014 which had 13 weeks.
Carter’s said, consolidated net sales increased $99.6 million, or 12.9 per cent year over year to $869.2 million, which the apparel marketer added, reflects growth in all business segments.
Changes in foreign currency exchange rates impacted consolidated net sales in the fourth quarter of fiscal 2015 by $5.8 million, or 0.8 per cent from the prior year quarter.
However, on a constant currency basis, consolidated net sales rose higher by 13.7 per cent in the reporting quarter.
Net income in the fourth quarter of fiscal 2015 surged 60.5 per cent to $68.6 million, or $1.29 per diluted share, compared to $42.7 million, or $0.78 per diluted share, in the fourth quarter of fiscal 2014.
Adjusted net income in the quarter under review expanded 25.7 per cent to $70.6 million as against $56.2 million in the corresponding quarter of fiscal 2014.
Adjusted earnings per diluted share ascended 29.8 per cent to $1.32 from 1.02 in the prior fiscal fourth quarter.
“The growth in adjusted earnings per diluted share reflects sales growth, improved price realisation, and expense leverage that were partially offset by higher product costs,” Carter’s informed.
During the fourth quarter of fiscal 2015, the Company paid a cash dividend of $0.19 per share totaling $10.0 million and paid cash dividends amounting to $40.5 million in fiscal 2015.
On February 18, 2015, its board of directors authorised a 16 per cent increase or $0.03 per share to the quarterly cash dividend, to $0.22 per share for payment on March 20, 2015.
CEO Michael Casey said, “We believe our focus on providing the best value and experience enabled us to achieve our 26th consecutive year of sales growth and a record level of profitability in 2014.”
“We are encouraged by consumers’ response to our new Spring product offerings, and we are expecting good growth in sales and earnings in the next fiscal.”
