Q4 2024 Carter's Inc Earnings Call Transcript
Key Points
- Carter's Inc (CRI) exceeded its sales and earnings expectations for the fourth quarter of 2024.
- The company saw a rise in consumer confidence and favorable holiday selling, contributing to a positive end to the year.
- Carter's Inc (CRI) grew its market share in the baby and toddler apparel segments in the US in 2024.
- The company's exclusive brand products achieved record sales in 2024, leveraging consumer shifts to mass channels.
- Carter's Inc (CRI) introduced new personalization capabilities and rebranded its loyalty program, enhancing customer engagement.
- Carter's Inc (CRI) anticipates a challenging profitability outlook for 2025.
- The company recorded a $30 million noncash pretax charge related to the impairment of the OshKosh B'gosh brand trade name.
- Fourth quarter adjusted EPS was down 13% from the previous year.
- US Retail segment faced a decline in sales, impacting overall performance.
- The stronger US dollar negatively affected international segment results and is expected to be a headwind in 2025.
Welcome to Carter's fourth quarter fiscal 2024 earnings conference call. On the call are Richard Westenberger, Chief -- I'm sorry, Interim Chief Executive Officer, Chief Financial Officer and Chief Operating Officer; Kendra Krugman, Chief Creative and Growth Officer; and Sean McHugh, Treasurer.
Please note that today's call is being recorded. I will now turn the call over to Mr. McHugh.
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Thank you, and good morning, everyone. We issued our fourth quarter 2024 earnings release earlier today. The release and presentation materials for today's call are available on our Investor Relations website at ir.carters.com. Note that statements on today's call about items such as the company's outlook and plans are forward-looking statements.
For a discussion of factors that could cause actual results to vary from those contained in the forward-looking statements, please see our most recent SEC filings and the earnings release and presentation
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