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Carter Holdings Inc., one of the largest marketers of infant and young children's clothing, is taking baby steps toward an initial public offering.
Atlanta-based Carter filed Aug. 23 with the Securities and Exchange Commission to raise up to $100 million through an IPO. The last Georgia company to go public was Atlanta-based AFC Enterprises Inc. (Nasdaq: AFCE) in March 2001. AFC operates Popeyes Chicken & Biscuits, Church's Chicken, Cinnabon, Seattle's Best Coffee and Torrefazione Italia.
David A. Brown, executive vice president of operations for Carter, said the company could not talk about its plans because it is in a SECrequired "quiet period" prior to the sale.
The company
But going public may be tough going for Carter, said Nate Herman, international trade adviser for the American Apparel and Footwear Association, an Arlington, Va.-based trade association for the U.S. apparel and footwear industries.
"I don't know of any other companies right now planning to go public, especially specialty retailers," he said. "It's a tough market to go public in, I'd say."
Founded 137 years ago, Carter's core products include bodysuits, pajamas, blanket sleepers, gowns, bibs, towels, washcloths and receiving blankets. The company obtains substantially all of its products from its offshore operations and third-party manufacturers located in foreign countries, which it says has helped it improve quality, lower costs and boost profits.
It sells its products under the Carter's and Tykes brand names in more than 8,200 department, national chain, specialty and discount stores, such as Kohl's Corp. (NYSE: KSS) and J.C. Penney Co....