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Carters Inc (CRI) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 28, 2020

Carters Inc

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CIK: 1060822 Ticker: CRI


EXHIBIT 99.1
                                                
carters_logoa01a01a01a01a19.jpg
 
Contact:
 
Sean McHugh
 
Vice President & Treasurer
 
(678) 791-7615

Carter’s, Inc. Reports First Quarter Fiscal 2020 Results

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Net sales $654 million, decline of 12%
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Loss per diluted share of $1.82; adjusted loss per diluted share $0.81
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Adjusted results reflect store closures in North America, lower wholesale sales, and higher inventory and bad debt provisions related to the COVID-19 pandemic
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The Company believes it has sufficient liquidity to weather the disruption caused by the current global health crisis
•
Board of Directors suspends quarterly dividend
ATLANTA, May 5, 2020 - Carter’s, Inc. (NYSE:CRI), the largest branded marketer in North America of apparel exclusively for babies and young children, today reported its first quarter fiscal 2020 results.
“The global pandemic has meaningfully disrupted the lives of families with young children. It began to impact our Company’s performance in March and will weigh on the growth we had planned this year,” said Michael D. Casey, Chairman and Chief Executive Officer.
“Through early March, our sales and earnings were in line with our growth objectives, and 2020 was forecasted to be another good year for Carter’s. In the second week of March, our sales began to decline as consumers reacted to the various media reports which heightened the awareness of significant risks related to COVID-19, and related precautions needed. In the days that followed, for the safety of consumers and employees, our store operations and related sales were suspended.
“Thankfully, Carter’s has remained open for business, and continues to support the demand for our brands through our extensive eCommerce capabilities, both direct-to-consumer, and through the major retailers. We also have the benefit of demand from some of our largest customers, including Target and Walmart, whose stores have remained open.

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The following information was filed by Carters Inc (CRI) on Tuesday, May 5, 2020 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Carters Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Changes In Stockholders' Equity
Condensed Consolidated Statements Of Comprehensive Income
Condensed Consolidated Statements Of Operations
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss (Tables)
Basis Of Presentation
Basis Of Presentation (Policies)
Basis Of Presentation Narrative (Details)
Commitments And Contingencies
Commitments And Contingencies Commitment Reserves (Details)
Common Stock
Common Stock (Share Repurchases) (Details)
Common Stock (Tables)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Goodwill And Intangible Assets) (Details)
Fair Value Measurements Fair Value Measurements (Borrowings) (Details)
Fair Value Measurements Fair Value Measurements (Investments) (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets Carrying Value Of Intangible Assets (Details)
Goodwill And Intangible Assets Estimated Amortization Expense (Details)
Goodwill And Intangible Assets Goodwill By Segment (Details)
Goodwill And Intangible Assets Narrative (Details)
Income Taxes
Income Taxes (Details)
Leases
Leases (Tables)
Leases Lease Cost And Supplementary Information (Details)
Leases Lease Maturity (Details)
Leases Operating Lease Term Of Contract And Additional Information (Details)
Long-Term Debt
Long-Term Debt (Details)
Long-Term Debt (Schedule Of Long Term Debt) (Details)
Long-Term Debt (Tables)
Other Current And Long-Term Liabilities
Other Current And Long-Term Liabilities (Other Current Liabilities) (Details)
Other Current And Long-Term Liabilities (Tables)
Restructuring
Restructuring (Tables)
Restructuring Charges (Details)
Restructuring Reserve (Details)
Revenue Recognition
Revenue Recognition (Details)
Revenue Recognition (Tables)
Revenue Recognition Contract Liabilities (Details)
Segment Information
Segment Information (Details)
Segment Information (Tables)
Stock-Based Compensation
Stock-Based Compensation (Details)
Stock-Based Compensation (Tables)
The Company

Material Contracts, Statements, Certifications & more

Carters Inc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.0: Section 1350 Certification
Ticker: CRI
CIK: 1060822
Form Type: 10-Q Quarterly Report
Accession Number: 0001060822-20-000009
Submitted to the SEC: Tue May 05 2020 7:01:14 PM EST
Accepted by the SEC: Wed May 06 2020
Period: Saturday, March 28, 2020
Industry: Apparel And Other Finishd Prods Of Fabrics And Similar Matl

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