PENNSYLVANIA — A national retailer with several dozen locations in Pennsylvania has announced it will be shuttering 150 of its stores nationwide.
Carter’s, North America’s largest apparel company exclusively for babies and young children, made the announcement on Monday. CEO Douglas Palladini said in a statement that elevated product costs, in part due to the impact of higher tariffs, has cut into the company’s profitability.
“We are pursuing several initiatives, including closing low-margin retail stores, right-sizing our organization, and honing product choices, which we believe will generate significant savings, improve overall cost structure, and provide investment capacity as we establish the foundation to return to consistent, profitable growth going forward,” Palladini stated.
In addition to the store closures, Carter’s also will reduce its office workforce by about 15 percent, cutting roughly 300 positions.
Carter’s did not identify which stores will be shuttered, but said the closings will occur gradually over the next three years as leases expire.