Carter’s reports Q3 adjusted EPS $1.64, consensus $1.40

Reports Q3 revenue $758M, consensus $755.61M. “We exceeded our Q3 sales and earnings objectives,” said Michael D. Casey, Chairman and CEO. “Our U.S. Retail sales were better than planned and driven by the strength of our product offerings, and effectiveness of our pricing and brand marketing strategies. In July, we initiated a plan to invest $40M in more competitive pricing and $10M in additional brand marketing in the second half of this year. We believe these investments, together with better in-store and online shopping experiences, improved the trend in our U.S. Retail sales in the third quarter. Compared to the first half of this year, we saw improving trends in conversion rates, transactions, unit volume, and new customer acquisition.”