Carter's rises on plans to cut jobs, shutter stores

Carters

27/10/2025 14:13

Updates

** Shares of children's apparel retailer Carter's CRI.N up about 5% at $33.77 in early trading

** Plans to reduce its office-based roles by about 300 positions, or 15% of workforce, by the end of 2025

** Targets to close about 150 stores in North America over the next three years, up from its prior plans of 100 closures

** Company sees $10 million in annual SG&A spending reductions across a number of categories, with savings beginning in 2026

** Warns of pre-tax earnings impact of tariffs between $200 million and $250 million on an annualized basis

** Posts Q3 revenue of $757.8 million, missing estimate of $769.8 million; adjusted EPS of 74 cents in line with estimates - data compiled by LSEG

** Stock down 40% YTD

(Reporting by Koyena Das)

((Koyena.Das@thomsonreuters.com;))