CARTERS INC

Listed Company

CRICIK 0001060822NYSELarge AcceleratedApparel & Other Finishd Prods Of Fabrics & Similar MatlDelawareFY ends Jan 2

Period

FY 2025

Revenue

$2.90B

Net Income

$91.80M

Total Assets

$2.57B

Equity

$925.05M

Shares Out

36.39M

Op. Cash Flow

$122.33M

Business

CARTERS INC is the largest branded marketer of young children’s apparel in North America and operates leading children’s lifestyle brands including Carter’s, OshKosh B’gosh, Skip Hop, Little Planet, and exclusive retailer brands. It offers a range of products including baby, toddler and kids apparel (newborn to size 14), accessories, sleepwear, playwear, diaper bags, and licensed lifestyle and nursery products. The company reports three operating segments: U.S. Retail, U.S. Wholesale, and International. It sells through company-owned retail stores, eCommerce and mobile sites, wholesale accounts, and international licensees across North America and over 90 countries.

Summary from filing dated 2025-02-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	2,898	2,844	2,946	3,213	3,486
Cost of goods sold	1,584	1,479	1,550	1,740	1,824
Gross profit	1,315	1,365	1,396	1,472	1,662
Royalty income, net	18	19	21	—	—
Selling, general, and administrative expenses	1,189	1,100	1,094	1,110	1,194
Intangible asset impairment	0	30	0	9	0
Operating income	144	255	323	379	497
Interest expense	34	31	34	43	60
Interest income	−13	−11	−5	−1	−1
Other (income) expense, net	−1	3	−8	975,000	−409,000
Pension plan settlement	9	949,000	0	—	—
Loss on extinguishment of debt	2	0	0	20	0
Income before income taxes	114	231	302	317	438
Income tax provision	22	45	70	67	99
Net income	92	186	233	250	340
Basic net income per common share (in USD per share)	2.53	5.12	6.24	6.34	7.83
Diluted net income per common share (in USD per share)	2.53	5.12	6.24	6.34	7.81
Dividend declared and paid per common share (in USD per share)	1.55	3.2	3	3	1.4

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	487	413	351	212	984
Accounts receivable, net	179	195	184	199	231
Finished goods inventories	545	502	537	745	648
Prepaid expenses and other current assets	61	33	29	34	36
Total current assets	1,271	1,143	1,101	1,189	1,900
Property, plant, and equipment, net	186	181	183	190	216
Operating lease assets	592	577	528	492	488
Tradenames, net	269	268	298	298	308
Goodwill	209	207	211	209	212
Customer relationships, net	20	24	27	31	34
Other assets	19	34	30	31	31
Total assets	2,565	2,433	2,379	2,440	3,188
Accounts payable	236	248	242	264	407
Current operating lease liabilities	136	131	135	142	134
Other current liabilities	134	130	134	122	176
Total current liabilities	506	509	512	529	717
Long-term debt, net	567	498	497	617	991
Deferred income taxes	39	38	41	41	41
Long-term operating lease liabilities	508	502	449	422	442
Other long-term liabilities	19	32	34	35	46
Total liabilities	1,640	1,579	1,533	1,643	2,238
Commitments and contingencies - Note $21	—	—	—	—	—
Preferred stock; par value $0.01 per share; 100,000 shares authorized; none issued or outstanding	0	0	0	0	0
Common stock, voting; par value $0.01 per share; 150,000,000 shares authorized; 36,425,877 and 36,041,995 shares issued and outstanding, respectively	364,000	360,000	366,000	377,000	411,000
Additional paid-in capital	20	4	0	0	0
Accumulated other comprehensive loss	−24	−44	−24	−34	−29
Retained earnings	929	894	869	830	979
Total shareholders equity	925	855	845	796	950
Total liabilities and shareholders equity	2,565	2,433	2,379	2,440	3,188

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation of property, plant, and equipment	52	54	60	62	90
Amortization of intangible assets	4	4	4	—	—
Provisions for (recoveries of) excess and obsolete inventory, net	401,000	−348,000	−10	5	4
Gain on partial termination of corporate lease	0	0	−4	0	0
Loss on disposal of property, plant and equipment	189,000	865,000	3	—	—
Amortization of debt issuance costs	2	2	2	2	3
Stock-based compensation expense	20	18	19	22	21
Unrealized foreign currency exchange (gain) loss, net	−457,000	380,000	−207,000	−78,000	371,000
Provisions for doubtful accounts receivable from customers	2	1	471,000	75,000	1
Unrealized gain on investments	−2	−2	−2	2	−2
Deferred income tax benefit	−162,000	−6	−600,000	−740,000	−14
Accounts receivable	15	−14	15	33	−46
Finished goods inventories	−37	26	223	−107	−53
Prepaid expenses and other assets	−8	−3	4	15	21
Accounts payable and other liabilities	−27	2	−17	−229	−101
Net cash provided by operating activities	122	299	529	88	268
Capital expenditures	−54	−56	−60	−40	−37
Net cash used in investing activities	−54	−56	−60	−40	−32
Proceeds from senior notes due 2031	575	0	0	—	—
Payment of senior notes due 2027	−500	0	0	−500	0
Payments of debt issuance costs	−12	0	0	−2	−223,000
Borrowings under secured revolving credit facility	0	0	70	240	0
Payments on secured revolving credit facility	0	0	−190	—	—
Repurchases of common stock	0	−51	−100	−300	−299
Dividends paid	−56	−116	−112	−118	−60
Withholdings from vesting of restricted stock	−5	−8	−5	−7	−4
Proceeds from exercise of stock options	0	367,000	4	4	11
Other	−370,000	−900,000	0	−919,000	0
Net cash provided by (used in) financing activities	2	−175	−333	−819	−353
Net effect of exchange rate changes on cash and cash equivalents	3	−6	3	−1	−1
Net increase in cash and cash equivalents	74	62	139	−773	−118

Filings

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