-
Initiative Expected to Create Approximately 200 Jobs in
Atlanta -
Expect to Incur Pre-Tax Charges of
$35 to $40 Million Over the Next 12 to 18 Months
“We are very fortunate to be growing and expanding our business in our
hometown of Atlanta,” said
Approximately 200 new jobs are expected to be created in
The Company anticipates pre-tax consolidation-related expenses in the
range of
About
Cautionary Language
This press release contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995 relating to the Company's future
performance, including, without limitation, statements with respect to
the Company's estimates of office consolidation-related charges,
expected consummation and timing of the consolidation, expected business
growth, and benefits of the consolidation. Such statements are based on
current expectations only, and are subject to certain risks,
uncertainties, and assumptions. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove
incorrect, actual results may vary materially from those anticipated,
estimated, or projected. Factors that could cause actual results to
materially differ include: the risk that actual charges could be greater
than estimated as the office consolidation is implemented, the risk that
the office consolidation may not be completed during the expected time
frame or at all due to the delay on securing, or inability to secure,
suitable facilities or other reasons, the risk that the company may not
achieve the expected benefits of the office consolidation as a result of
business disruption or other factors, the acceptance of the Company's
products in the marketplace; changes in consumer preference and fashion
trends; seasonal fluctuations in the children's apparel business;
negative publicity; the breach of the Company's consumer databases;
increased production costs; deflationary pricing pressures and customer
acceptance of higher selling prices; a continued decrease in the overall
level of consumer spending; the Company's dependence on its foreign
supply sources; failure of its foreign supply sources to meet the
Company's quality standards or regulatory requirements; the impact of
governmental regulations and environmental risks applicable to the
Company's business; disruption to our eCommerce business, distribution
facilities, or in-sourcing capabilities; the loss of a product sourcing
agent; increased competition in the baby and young children's apparel
market; the ability of the Company to identify new retail store
locations, and negotiate appropriate lease terms for the retail stores;
the ability of the Company to adequately forecast demand, which could
create significant levels of excess inventory; failure to successfully
integrate Bonnie Togs into our existing business and realize growth
opportunities and other benefits from the acquisition; failure to
achieve sales growth plans, cost savings, and other assumptions that
support the carrying value of the Company's intangible assets; and the
ability to attract and retain key individuals within the organization.
Many of these risks are further described in the most recently filed
Quarterly Report on Form 10-Q and other reports filed with the
Source: Carter’s, Inc.
Carter's, Inc.
Sean McHugh, 404-745-2889
Vice President,
Investor
Relations & Treasury