Reaffirms FY 2024 Financial Outlook
Carter’s, Inc. (NYSE: CRI), the largest branded marketer in
North America of apparel exclusively for babies and young children,
today announced that Michael D. Casey will retire as Chairman and
Chief Executive Officer after over 15 years in the role and a more
than 30-year career with the Company.
Richard F. Westenberger has been appointed interim Chief
Executive Officer, in addition to his responsibilities as Senior
Executive Vice President, Chief Financial Officer & Chief
Operating Officer. He joined the Company in 2009 as Executive Vice
President & Chief Financial Officer, and was appointed Senior
Executive Vice President, Chief Financial Officer & Chief
Operating Officer in March 2024.
William J. Montgoris, Lead Independent Director, has been
appointed Non-Executive Chairman of the Board of Directors.
Mr. Casey’s retirement, and the appointments of Mr. Westenberger
and Mr. Montgoris, are effective immediately.
Mr. Casey will serve in an advisory capacity until February 28,
2025 to help support the leadership transition. The Board has
initiated a comprehensive search process to identify a new CEO and
has retained Egon Zehnder to assist. The search is focused
exclusively on external candidates.
“On behalf of the Board, I want to express our deepest gratitude
to Mike for his dedication, leadership, and numerous contributions
over his three decades at the Company,” said Mr. Montgoris. “During
his tenure, the Company has strengthened its position as the market
leader in young children’s apparel and has grown significantly
through the creation of new brands and new channels of distribution
including retail stores, eCommerce, and our international
businesses. We look forward to identifying our next CEO who can
build on this strong foundation and deliver a new chapter of growth
and value creation for Carter’s.”
Mr. Casey commented, “It has been the honor of my career to lead
Carter’s alongside our talented and dedicated team. Together, we
have built the strongest and most trusted brands in young
children’s apparel, grown our unique multi-channel business model,
and strengthened our marketing and operational capabilities. As we
enter a new year, I believe it is the right time for me to retire
and for the Company to identify its next leader. Carter’s is in
good hands and well-positioned to strengthen its leadership of the
young children’s apparel market in the years ahead.”
Company Reaffirms Previously Disclosed Financial
Outlook
Subject to completion of its customary year-end financial
processes and external audit, the Company reaffirms its outlook for
fiscal year 2024, on an adjusted basis, as previously disclosed on
October 25, 2024. The Company expects to provide fourth quarter and
fiscal year 2024 results in February.
About Carter’s, Inc.
Carter’s, Inc. is the largest branded marketer in North America
of apparel exclusively for babies and young children. The Company
owns the Carter’s and OshKosh B’gosh brands, two of the most
recognized brands in the marketplace. These brands are sold through
over 1,000 Company-operated stores in the United States, Canada,
and Mexico and online at www.carters.com, www.oshkosh.com,
www.cartersoshkosh.ca, and www.carters.com.mx. Carter’s also is the
largest supplier of young children’s apparel to the largest
retailers in North America. Its brands are sold in leading
department stores, national chains, and specialty retailers
domestically and internationally. The Company’s Child of Mine brand
is available at Walmart, its Just One You brand is available at
Target, and its Simple Joys brand is available on Amazon.com. The
Company also owns Little Planet, a brand focused on organic fabrics
and sustainable materials, and Skip Hop, a global lifestyle brand
for families with young children. Carter’s is headquartered in
Atlanta, Georgia. Additional information may be found at
www.carters.com.
Forward-Looking Statements
Statements in this press release that are not historical fact
and use predictive words such as “estimates,” “outlook,”
“guidance,” “expect,” “believe,” “intend,” “designed,” “target,”
“plans,” “may,” “will,” “are confident” and similar words are
forward-looking statements (as such term is defined in the Private
Securities Litigation Reform Act of 1995). These forward-looking
statements and related assumptions involve risks and uncertainties
that could cause actual results and outcomes to differ materially
from any forward-looking statements or views expressed in this
press release. These risks and uncertainties include, but are not
limited to, the factors disclosed in Part 1, Item 1A. “Risk
Factors” of the Company’s Annual Report on Form 10-K for the fiscal
year ended December 30, 2023, and otherwise in our reports and
filings with the Securities and Exchange Commission, as well as the
following factors: risks related to Mr. Casey’s retirement; risks
related to our ability to identify and retain an external CEO
candidate; risks related to the 2024 U.S. presidential election;
risks related to public health crises; changes in global economic
and financial conditions, and the resulting impact on consumer
confidence and consumer spending, as well as other changes in
consumer discretionary spending habits; continued inflationary
pressures with respect to labor and raw materials and global supply
chain constraints that have had, and could continue to have, an
affect on freight, transit, and other costs; risks related to
geopolitical conflict, including ongoing geopolitical challenges
between the United States and China, the ongoing hostilities in
Ukraine, Israel, and the Red Sea region, acts of terrorism, mass
casualty events, social unrest, civil disturbance or disobedience;
risks related to a potential shutdown of the U.S. government;
financial difficulties for one or more of our major customers; an
overall decrease in consumer spending, including, but not limited
to, decreases in birth rates; our products not being accepted in
the marketplace and our failure to manage our inventory; increased
competition in the marketplace; diminished value of our brands; the
failure to protect our intellectual property; the failure to comply
with applicable quality standards or regulations; unseasonable or
extreme weather conditions; pending and threatened lawsuits; a
breach of our information technology systems and the loss of
personal data; increased margin pressures, including increased cost
of materials and labor and our inability to successfully increase
prices to offset these increased costs; our foreign sourcing
arrangements; disruptions in our supply chain, including increased
transportation and freight costs; the management and expansion of
our business domestically and internationally; the acquisition and
integration of other brands and businesses; changes in our tax
obligations, including additional customs, duties or tariffs;
fluctuations in foreign currency exchange rates; risks associated
with corporate responsibility issues; our ability to achieve our
forecasted financial results for the fiscal year; our continued
ability to declare and pay a dividend and conduct share repurchases
in future periods; our planned opening and closing of stores; and
consummation of the early payout, and potential termination, of the
pension plan, including the ultimate amount of any related charges.
Except for any ongoing obligations to disclose material information
as required by federal securities laws, the Company does not
undertake any obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise. The inclusion of any statement in this
press release does not constitute an admission by the Company or
any other person that the events or circumstances described in such
statement are material.
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version on businesswire.com: https://www.businesswire.com/news/home/20250106850851/en/
Sean McHugh Vice President & Treasurer (678) 791-7615
sean.mchugh@carters.com
Carters (NYSE:CRI)
過去 株価チャート
から 12 2024 まで 1 2025
Carters (NYSE:CRI)
過去 株価チャート
から 1 2024 まで 1 2025
