(NEXSTAR) -- Carter's, the Georgia-based clothing retailer tailored toward babies and children, is closing dozens of stores through the next three years, the company confirmed in its third-quarter fiscal report on Monday.

"While we are steadying our business in 2025, there’s still meaningful work to do for Carter’s to unlock its full potential in terms of exceeding both consumer and shareholder expectations," President and CEO Douglas C. Palladini said in a press release, adding that Carter's is "pursuing several initiatives, including closing low-margin retail stores, right-sizing our organization, and honing product choices."

By the end of the year, Carter's plans to cut office-based roles by about 300 positions, impacting about 15 percent of its staff. The move reflects similar but la

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