Carter's to close 150 US stores amid rising costs and layoffs to improve profitability

Carter's, a major children's clothing retailer, announced plans to close 150 stores across the US as part of a turnaround strategy to cut costs and boost profits. The closures will occur gradually as leases expire over the next few years, impacting significant markets like California, where the company operates over 100 locations. Rising product costs, partly due to tariffs, have pressured the company's profitability, leading to earlier layoffs of 300 employees. Carter's aims to shift customers to nearby stores or online shopping to maintain sales while reducing expenses.