Children’s clothing retailer Carter’s announced plans to close approximately 150 stores and eliminate 300 office-based positions as part of a restructuring plan aimed at addressing financial challenges caused largely by rising import tariffs, Parade reports.

The company will target “low-margin” locations for closure over the next three years as leases expire, with 100 stores scheduled to close between 2025 and 2026, the company said in its news release .

Carter’s has not yet specified which locations will be affected. The restructuring also includes reductions in board member salaries.

“There’s still meaningful work to do for Carter’s to unlock its full potential in terms of exceeding both consumer and shareholder expectations,” Douglas C. Palladini, the company’s CEO and president,

See Full Page