v2.3.0.11
SEGMENT INFORMATION
 6 Months Ended
Jul. 02, 2011
SEGMENT INFORMATION [Abstract]  
SEGMENT INFORMATION
NOTE 12 – SEGMENT INFORMATION:

 
We report segment information in accordance with accounting guidance on segment reporting, which requires segment information to be disclosed based upon a “management approach.”  The management approach refers to the internal reporting that is used by management for making operating decisions and assessing the performance of our reportable segments.  We report our corporate expenses and acquisition-related expenses separately as they are not included in the internal measures of segment operating performance used by the Company in order to measure the underlying performance of our reportable segments.

The table below presents certain segment information for the periods indicated:

   
For the three-month periods ended
  
For the six-month periods ended
 
(dollars in thousands)
 
July 2,
2011
  
% of
Total
  
July 3,
2010
  
% of
Total
  
July 2,
2011
  
% of
Total
  
July 3,
2010
  
% of
Total
 
Net sales:
                        
                          
Carter’s:
                        
 Wholesale
 $128,133   32.5% $111,248   34.0% $316,011   36.6% $257,506   35.0%
 Retail (a)
  142,921   36.2%  113,593   34.7%  280,783   32.5%  231,732   31.5%
 Mass Channel
  50,625   12.8%  38,838   11.9%  117,261   13.6%  106,758   14.5%
         Carter’s net sales
  321,679   81.5%  263,679   80.6%  714,055   82.7%  595,996   81.0%
                                  
OshKosh:
                                
Retail (a)
  57,112   14.5%  51,959   15.9%  111,106   12.9%  107,104   14.5%
Wholesale
  15,697   4.0%  11,371   3.5%  38,327   4.4%  32,958   4.5%
         OshKosh net sales
  72,809   18.5%  63,330   19.4%  149,433   17.3%  140,062   19.0%
                                  
         Total net sales
 $394,488   100.0% $327,009   100.0% $863,488   100.0% $736,058   100.0%
                                  
Operating income (loss):
     
% of
segment
net sales
      
% of
segment
net sales
      
% of
segment
net sales
      
% of
segment
net sales
 
                                  
Carter’s:
                                
Wholesale
 $16,059   12.5% $23,341   21.0% $50,766   16.1% $63,639   24.7%
Retail (a)
  20,031   14.0%  18,683   16.4%  47,198   16.8%  44,826   19.3%
Mass Channel
  6,654   13.1%  6,856   17.7%   12,099   10.3%  19,650   18.4%
                                  
         Carter’s operating income
  42,744   13.3%  48,880   18.5%  110,063   15.4%  128,115   21.5%
                                  
OshKosh:
                                
Retail (a)
  (6,346)  (11.1%)  (909)  (1.7%)  (12,233)  (11.0%)  1,054   1.0%
Wholesale
  (1,470)  (9.4%)  (2,363)  (20.8%)  1,155   3.0%  1,230   3.7%
Mass Channel (b)
  712   --   474   --   1,520   --   1,239   -- 
                                  
         OshKosh operating (loss) income
  (7,104)  (9.8%)  (2,798)  (4.4%)  (9,558)  (6.4%)  3,523   2.5%
                                  
         Segment operating income
  35,640   9.0%  46,082   14.1%  100,505   11.6%  131,638   17.9%
                                  
Corporate expenses (c)
  (12,435)  (3.2%)  (12,659)  (3.9%)  (22,629)  (2.6%)  (27,046)  (3.7%)
Acquisition-related expenses (d)
  (1,183)  (0.3%)  --   --   (2,220)  (0.3%)  --   -- 
Net corporate expenses
  (13,618)  (3.5%)  (12,659)  (3.9%)  (24,849)  (2.9%)  (27,046)  (3.7%)
                                  
Total operating income
 $22,022   5.6% $33,423   10.2% $75,656   8.8% $104,592   14.2%


(a)  
Includes eCommerce results.
(b)  
OshKosh mass channel consists of a licensing agreement with Target Stores.  Operating income consists of royalty income, net of related expenses.
(c)  
Corporate expenses generally include expenses related to incentive compensation, stock-based compensation, executive management, severance and relocation, finance, building occupancy, information technology, certain legal fees, consulting, and
audit fees.
(d)  
Acquisition-related expenses consist of professional service fees associated with the acquisition of Bonnie Togs.