Mayor’s Office of Communications
55 Trinity Avenue, Suite 2500 • Atlanta, Georgia 30303
FOR IMMEDIATE RELEASE: 10/11/12
Invest Atlanta, State of Georgia Work with Carter’s to Bring New Jobs to Atlanta
Leading Children’s Apparel Company Plans to Consolidate Retail Store, Financial, IT Functions in City
ATLANTA – Invest Atlanta, the city of Atlanta’s economic development agency, played a key role in Carter’s, Inc.’s planned consolidation of several critical functions in Atlanta, where the company has its corporate headquarters. The move is expected to create approximately 200 professional jobs in Atlanta.
Invest Atlanta will assist Carter’s in its consolidation of retail store and financial functions to Atlanta through the city’s job creation program. The state of Georgia also is assisting Carter’s in the consolidation.
“Carter’s is one of the top providers of clothing and products for babies and young children in the nation, and we’re proud the company calls the city of Atlanta home,” said Mayor Kasim Reed, also chairman of Invest Atlanta. “Carter’s clearly sees continued opportunity in Atlanta, and we applaud its decision to move and create more well-paying jobs in the city.”
The expected new positions in Atlanta are principally in the areas of retail merchandising and store operations, finance, and information technology. The company currently employs approximately 1,200 people in the Atlanta metropolitan area.
“We have a long and successful history of doing business in Georgia,” said Michael D. Casey, Chairman and Chief Executive Officer of Carter’s. “Atlanta is a very compelling place to live and work. We look forward to bringing our Connecticut-based operations to Atlanta, which will strengthen our collaboration and ability to provide consumers with the best value and experience in young children’s apparel.”
Carter’s decision to move its retail store, financial and IT functions to the city of Atlanta is a testament to Atlanta’s strength in those sectors. “The city of Atlanta is home to several leaders in the financial industry, including SunTrust Banks, Equifax and Invesco,” said Brian P. McGowan, president and CEO of Invest Atlanta. “Also, Atlanta has emerged as a national technology hub, and our retail sector is a vibrant part of the economy.”
McGowan added. “The new Carter’s jobs will build on the momentum we created with our other wins, including Asurion, Panasonic and others.
Georgia Gov. Nathan Deal said he is pleased that Carter’s is expanding in the state.
“We welcome Carter’s additional presence in Georgia ,” said Gov. Deal. “Carter’s is well-acquainted with the competitive benefits our business climate can provide for headquarters operations, and we look forward to helping the company continue to thrive here.”
To enable the consolidation of these operations and to support its growth plans, Carter’s is evaluating its long-term space needs in the Atlanta area. The company expects to complete this consolidation by the end of 2013.
About Carter's, Inc.
Carter's, Inc. is the largest branded marketer in the United States of apparel and related products exclusively for babies and young children. The Company owns the Carter's and OshKosh B'gosh brands, two of the most recognized brands in the marketplace. These brands are sold in leading department stores, national chains, and specialty retailers domestically and internationally. They are also sold through more than 600 Company-operated stores in the United States and Canada and on-line at www.carters.com and www.oshkoshbgosh.com. The Company's Just One You, Precious Firsts, and Genuine Kids brands are available at Target, and its Child of Mine brand is available at Walmart. Carter's is headquartered in Atlanta, Georgia. Additional information may be found at www.carters.com.
Carter’s, Inc. Safe Harbor 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 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 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 Company’s most recently filed Quarterly Report on Form 10-Q and other reports filed with the Securities and Exchange Commission under the headings "Risk Factors" and "Forward-Looking Statements." The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
About Invest Atlanta
Invest Atlanta is the official economic development authority for the City of Atlanta. Its purpose is to strengthen Atlanta’s economy and global competitiveness in order to create increased opportunity and prosperity for the people of Atlanta.
Chaired by the Mayor of Atlanta, and governed by a nine-member board of directors, Invest Atlanta’s programs and initiatives focus on developing and fostering public/private partnerships to create jobs, grow the economy, revitalize neighborhoods, attract investment, spur innovation, and encourage entrepreneurship. To achieve these goals, Invest Atlanta leverages the benefits of bond financing, revolving loan funds, housing financing, tax increment financing (TIF), and tax credits.
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