Major US clothing store calls out Trump's tariffs after announcing plans to shutter 150 locations [View all]

Source: The Independent

Tuesday 11 November 2025 16:17 EST


A major U.S. clothing store has called out Donald Trump’s sweeping global tariffs as having had a “meaningful” impact on its profits after announcing the closure of 150 stores across the country.

Carter’s, which sells clothes and other essentials for babies and toddlers, said its operating income was down by approximately 62 percent over the first three quarters when compared to the same period last year.

“Elevated product costs, in part due to the impact of higher tariffs, as well as additional investment, weighed meaningfully on our profitability,” CEO Douglas C. Palladini said in a statement accompanying the company’s latest earnings report. The company now plans to close approximately 150 stores at lease expiration in North America over the next three years, rather than 100, which it previously announced.

A hundred stores will be closed over the fiscal year 2025 and 2026 periods. The 150 stores collectively represent approximately $110 million in annual net sales on a last-12-months basis, according to the earnings report. Carter’s operates around 1,200 stores across the U.S., though it was not specified which locations would be closing down.

Read more: https://www.the-independent.com/news/world/americas/carters-store-closure-trump-tariffs-b2863274.html