Carter's Inc (Carter’s) designs and markets children's apparel, accessories, and gift items. The company's product portfolio comprises a range of children and baby products, with 980 stores at the end of fiscal 2021, where the company closed around 121 stores in 2021 and 8 stores in 2020. Carter’s markets products under various brand names such as Carter's, OshKoshB'gosh, Skip Hop, Simple Joys, Just One You, Child of Mine, and Little Collections. It also sells its products through various e-commerce channels. The company markets its products in 90 countries through a network of 980 stores at the end of the financial year 2021.
In 2021, Carter's closed 121 less profitable retail stores in the United States owing to the decrease in store traffic caused by the negative impact of the pandemic and the company intends to close approximately 30 more stores in fiscal 2022. It states that the closures of less profitable stores helped the company to improve its operating profitability.
By the end of FY2021, Carter’s operated 980 stores, down from 1101 operational stores in 2020. Of the 980 stores in 2021, the United States had the most retail space with 751 stores, followed by 186 in Canada, and the remaining 43 stores in Mexico.
Carter’s top profitability sector in 2021 remained e-commerce. It contributed nearly 40% of its total US Retail sales, up from 31% before the pandemic in 2019. The company is expecting good growth in international sales, with over 70% of its growth expected to be driven by its operations in Canada and Mexico. The company achieved net sales of $3.5 billion, a 15% increase from 2020. International sales increased 29.2% in fiscal 2021, primarily due to strong performance in its Canadian retail stores and e-commerce channels.
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