Apparel retailer Carter's down on dour Q2 forecast

Carters

28/04/2023 13:46

** Shares of apparel retailer Carter's Inc  CRI.N  down 3.5%
at $66.50 premarket
    ** Company forecasts Q2 sales and profit below Wall Street
estimates, hurt by persistent inflationary pressure on consumer
demand
    ** CRI expects Q2 sales between $590 mln and $605 mln, vs
analysts' avg. est. of $625.8 mln - Refinitiv
    ** Sees Q2 adj. EPS of 40 cents to 50 cents, also below
analysts' est. of 75 cents
    ** But CRI beat Q1 revenue and profit expectations on strong
demand for its spring season apparel collection
    ** Up to Thursday's close, stock down 7.6% in 2023

 (Reporting by Anne Florentyna Gnanaraja Sekar in Bengaluru)
 ((AnneFlorentyna.GnanarajaSekar@thomsonreuters.com;))