Carter's Shares Drop on Forecast for Earnings Decline
Dow Jones07-31 21:03
Shares of Carter's fell after the company warned of a decline in profitability this year due to tariffs.
The stock was down 7.6% at $34.93 in premarket trading. Shares had gained 16% year-to-date through Thursday's close.
The baby-apparel company said before the opening bell that adjusted earnings are expected decline in the high-single-digit to low-double-digit percentage range this year.
The outlook assumes a lower gross margin rate, Carter's said. That's because of incremental tariff costs that are only getting partially offset by higher pricing and other mitigation tactics.
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