Children’s clothing retailer Carter’s, including OshKosh B’gosh, plans to close 150 stores and cut 300 jobs over three years, with 100 closures by 2026. Tariffs are blamed for lower margins and increased costs, with an estimated $25-35 million impact on Q4 earnings. The brand is also suspending new U.S. store openings.

Higher tariffs have cut gross margins by $20 million in Q3 and are expected to have a $40 million impact in Q4. Most store closures will happen as leases expire, saving $35 million annually by cutting office-based roles by 15%. Carter’s is focusing on enhancing a performance-driven culture.

Carter’s is not providing 2025 sales and earnings guidance due to tariff uncertainty. The brand plans to streamline processes and decision-making with reduced office-based roles. USA TODAY reached out to Carter’s for comment on the closures and job cuts, but has not received a response.

Read more at Yahoo Finance: Children’s clothing retailer Carter’s closing 150 stores, cutting 300 jobs