@Carter’s
After just announcing that Coca-Cola is dropping many of its underperforming brands, we have some sad news from Carter’s stores.
Carter’s has announced it will be closing about 25% of its stores. They specialize in infant and young children clothing and own and operate around 850 stores across the U.S., Canada and Mexico. Closing 25% off Carter’s stores meaning 200 or more locations will be shut down when the lease runs out, or under a kickout provision.
More than half, around 60%, of the closures are expected by end of 2020, with 80% to be closed by 2022. The list of closing locations has not yet been announced.
This does not mean new growth is stopping however, as the brand looks to open new stores in more populated areas. In fact, close to 100 openings are planned within the next 5 years for Carter’s & OshKosh Stores. They also noted the open-air store locations are more convenient than mall locations, especially when it comes to curbside or same-day pickup.
Wow
Sad