Major US clothing store calls out Trump’s tariffs after announcing plans to shutter 150 locations
Carter’s to close 150 stores across the US in coming years
- Baby and toddler clothing retailer Carter's reported a substantial 62 percent decrease in operating income for the first three quarters compared to the previous year.
- The company attributed this significant profit decline primarily to elevated product costs, in part due to the “meaningful” impact of higher tariffs.
- Carter's announced plans to close 150 stores across North America over the next three years, an increase from the previously stated 100 closures.
- These store closures are projected to affect approximately $110 million in annual net sales and are part of broader initiatives to improve cost structure and profitability.
- The retailer highlighted that new tariffs imposed by the US administration have substantially increased duties on imported products, impacting its financial performance, a trend also observed by other major retailers.