May. 20 at 8:33 PM
$CRI Carter's cuts dividend to 25c per share from 80c
Carter's announced an update to the Company's return of capital strategy in conjunction with its ongoing strategy development. Doug Palladini, CEO, states: "I recently presented to the Board my preliminary thoughts on actions that can be taken to return Carter's to growth. As we continue to develop our strategic plan, it is my current intention to be able to present that plan to the investment community on our second quarter earnings call later this summer. I am excited about what is ahead for Carter's and the prospects of driving significant value creation for our shareholders.
Our current cash position and liquidity are strong and are forecasted to remain so. However, as we anticipate making strategic investments in our business in the coming years, our current dividend is misaligned with our current level of profitability, especially against the backdrop of a challenging market environment and the possibility the Company may incur significantly higher product costs as the result of the new proposed tariffs on products imported into the United States.
In light of these factors, our Board of Directors declared a dividend of
$0.25 per share payable on June 20, 2025, to shareholders of record as of June 2, 2025. As the Company progresses in its goal of returning to growth, the Company will continue to evaluate its capital allocation priorities, including the amount and timing of returning capital to shareholders."
