Carter's (CRI) Collaborates With Shipt on Product Offerings
Carter’s, Inc. CRI recently entered into a partnership with Shipt to launch its apparel brand on the latter’s multi-retailer platform. This collaboration is in line with Carter’s’ focus on expanding its merchandise offering beyond select stores nationwide and delivering customers a seamless shopping experience.
CRI’s share price increased 2.6% yesterday, eventually closing the session at $73.81.
Inside the Headlines
Per the deal, Carter’s’ diversified collection, consisting of apparel and other needs for babies and young children, will be available for purchase on Shipt Marketplace. Consumers will get access to Carter’s brands with a same-day delivery option throughout the United States, including New York, Atlanta, Dallas, Chicago, Los Angeles, Miami and others, all supported by Shipt’s shopper network.
This collaboration will help boost the shopping experience for Carter’s consumers, offering them a convenient purchasing platform for apparel and gifts during the holiday season.
Carter's has made significant efforts in pricing to address market conditions and enhance profitability. Despite the lower traffic in the U.S. Retail segment than the previous year, the company managed to achieve improved pricing and grow average transaction values.
What’s More?
Carter’s’ top line continued to witness inflationary impacts, leading to reduced consumer spending. However, demand trends in the wholesale segment showed improvement in the third quarter results. The company’s U.S. wholesale segment witnessed higher-than-expected demand for its fall and holiday products in the quarter. The U.S. Wholesale segment’s sales increased 4.1% year over year in the third quarter of 2023.
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The Zacks Rank #3 (Hold) stock has increased 6.8% in the past six months compared with the industry’s growth of 1.3%.
However, Carter’s has been witnessing soft online sales trends due to the recent change in consumer demand. Consequently, it experienced a notable decrease in e-commerce sales in the third quarter of 2023, with a 19% decline in online sales compared with a 5% decrease in retail store sales.
3 Red-Hot Stocks
Some better-ranked stocks from the same sector are MINISO Group Holding Limited MNSO, Deckers Outdoor Corporation DECK and MarineMax HZO. While MINISO Group sports a Zacks Rank #1 (Strong Buy), Deckers Outdoor and MarineMax, each carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
MINISO Group operates as a retailer and wholesaler of lifestyle products. The Zacks Consensus Estimate for MNSO’s current financial year earnings per share and sales suggests growth of 43.6% and 29.9%, respectively, from the corresponding year-ago reported figures.
Deckers Outdoor is a leading producer and brand manager of innovative, niche footwear and accessories. The Zacks Consensus Estimate for Deckers’ current fiscal-year earnings and sales indicates growth of 20.9% and 11.4%, respectively, from the previous year’s reported figures. DECK has a trailing four-quarter earnings surprise of 26.3%, on average.
MarineMax is a recreational boat and yacht retailer and a superyacht services company. MarineMax’s earnings came in line with the Zacks Consensus Estimate in the last reported quarter. The Zacks Consensus Estimate for HZO’s current financial year sales suggests growth of 3.1% from the year-ago period’s figures.
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