Carter's (CRI) said Tuesday that Richard Westenberger has been named interim CEO, effective immediately, succeeding Michael Casey who is retiring.
Westenberger's appointment is in addition to his other roles as chief financial officer and chief operating officer, the company said. Casey will remain as an advisor until Feb. 28,
Carter's said its board has initiated a search process to identify a new CEO that will be focused exclusively on external candidates.
The children's apparel company also reaffirmed its outlook for fiscal 2024, expecting adjusted earnings of $4.70 to $5.15 per diluted share. Analysts polled by FactSet expect $5.31.
Net sales for the year are expected to be between $2.79 billion to $2.83 billion. Analysts surveyed by FactSet expect $2.82 billion.
Carter's shares were 1.3% lower in recent trading.
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