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REVENUE RECOGNITION (Tables) | 9 Months Ended
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Sep. 28, 2024
Revenue from Contract with Customer [Abstract] |
Schedule of Disaggregated Revenue | Disaggregated revenues from these sources for the fiscal periods indicated were as follows:
|  | Fiscal quarter ended September 28, 2024
(dollars in thousands) |  | U.S. Retail |  | U.S. Wholesale |  | International |  | Total
Direct-to-consumer |  | $ | 352,987 |  |  | $ | — |  |  | $ | 67,172 |  |  | $ | 420,159 |
Wholesale channel |  | — |  |  | 298,980 |  |  | 39,325 |  |  | 338,305 |
|  | $ | 352,987 |  |  | $ | 298,980 |  |  | $ | 106,497 |  |  | $ | 758,464 |
Royalty income, net |  | $ | 2,539 |  |  | $ | 2,884 |  |  | $ | 317 |  |  | $ | 5,740 |
|  | Three fiscal quarters ended September 28, 2024
(dollars in thousands) |  | U.S. Retail |  | U.S. Wholesale |  | International |  | Total
Direct-to-consumer |  | $ | 950,877 |  |  | $ | — |  |  | $ | 176,583 |  |  | $ | 1,127,460 |
Wholesale channel |  | — |  |  | 756,022 |  |  | 100,908 |  |  | 856,930 |
|  | $ | 950,877 |  |  | $ | 756,022 |  |  | $ | 277,491 |  |  | $ | 1,984,390 |
Royalty income, net |  | $ | 4,581 |  |  | $ | 8,727 |  |  | $ | 1,651 |  |  | $ | 14,959 |
|  | Fiscal quarter ended September 30, 2023
(dollars in thousands) |  | U.S. Retail |  | U.S. Wholesale |  | International |  | Total
Direct-to-consumer |  | $ | 374,796 |  |  | $ | — |  |  | $ | 70,675 |  |  | $ | 445,471 |
Wholesale channel |  | — |  |  | 300,338 |  |  | 45,842 |  |  | 346,180 |
|  | $ | 374,796 |  |  | $ | 300,338 |  |  | $ | 116,517 |  |  | $ | 791,651 |
Royalty income, net |  | $ | 2,236 |  |  | $ | 3,147 |  |  | $ | 330 |  |  | $ | 5,713 |
|  | Three fiscal quarters ended September 30, 2023
(dollars in thousands) |  | U.S. Retail |  | U.S. Wholesale |  | International |  | Total
Direct-to-consumer |  | $ | 1,021,983 |  |  | $ | — |  |  | $ | 181,006 |  |  | $ | 1,202,989 |
Wholesale channel |  | — |  |  | 767,194 |  |  | 117,547 |  |  | 884,741 |
|  | $ | 1,021,983 |  |  | $ | 767,194 |  |  | $ | 298,553 |  |  | $ | 2,087,730 |
Royalty income, net |  | $ | 5,746 |  |  | $ | 8,694 |  |  | $ | 2,133 |  |  | $ | 16,573 |
Accounts Receivable from Customers and Licensees The components of Accounts receivable, net, were as follows:
(dollars in thousands) |  | September 28, 2024 |  | December 30, 2023 |  | September 30, 2023
Trade receivables from wholesale customers, net |  | $ | 243,085 |  |  | $ | 172,106 |  |  | $ | 239,493 |
Royalties receivable |  | 5,237 |  |  | 4,753 |  |  | 5,825 |
Other receivables(1) |  | 12,030 |  |  | 20,032 |  |  | 10,898 |
Total gross receivables |  | $ | 260,352 |  |  | $ | 196,891 |  |  | $ | 256,216 |
Less: Wholesale accounts receivable reserves(2)(3) |  | (13,339) |  |  | (13,117) |  |  | (15,709) |
Accounts receivable, net |  | $ | 247,013 |  |  | $ | 183,774 |  |  | $ | 240,507 |
(1)Includes tenant allowances, tax, payroll, gift card and other receivables. The balance for the fiscal period ended December 30, 2023 includes a receivable for a $6.9 million court approved settlement in December 2023 related to payment card interchange fees. This payment was received in the first quarter of fiscal 2024. (2)Includes allowance for chargebacks of $5.0 million, $8.4 million, and $9.0 million for the periods ended September 28, 2024, December 30, 2023, and September 30, 2023, respectively. (3)Includes allowance for credit losses of $8.3 million, $4.8 million, and $6.7 million for the periods ended September 28, 2024, December 30, 2023, and September 30, 2023, respectively.
Schedule of Contract Liabilities | Total contract liabilities consisted of the following amounts:
(dollars in thousands) | September 28, 2024 |  | December 30, 2023 |  | September 30, 2023
Contract liabilities - current: |  |  |  |  |
Unredeemed gift cards(1) | $ | 24,638 |  |  | $ | 25,162 |  |  | $ | 23,983 |
Unredeemed customer loyalty rewards | 2,362 |  |  | 3,355 |  |  | 4,020 |
Carter’s credit card - upfront bonus(2) | 714 |  |  | 714 |  |  | 714 |
Total contract liabilities - current(3) | $ | 27,714 |  |  | $ | 29,231 |  |  | $ | 28,717 |
Contract liabilities - non-current(4) | $ | 179 |  |  | $ | 714 |  |  | $ | 893 |
Total contract liabilities | $ | 27,893 |  |  | $ | 29,945 |  |  | $ | 29,610 |
(1)During the third quarters of fiscal 2024 and fiscal 2023, the Company recognized revenue of $1.4 million and $1.1 million related to the gift card liability balance that existed at June 29, 2024 and July 1, 2023, respectively. Additionally, during the first three quarters of fiscal 2024 and fiscal 2023, the Company recognized revenue of $7.1 million and $6.4 million related to the gift card liability balance that existed at December 30, 2023 and December 31, 2022, respectively. (2)The Company received an upfront signing bonus from a third-party financial institution, which will be recognized as revenue on a straight-line basis over the term of the agreement. This amount reflects the current portion of this bonus to be recognized as revenue over the next twelve months. (3)Included with Other current liabilities on the Company’s condensed consolidated balance sheets. (4)This amount reflects the non-current portion of the Carter’s credit card upfront bonus and is included within Other long-term liabilities on the Company’s condensed consolidated balance sheets.

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5 + Details
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