1212 ET - While Carter's 4Q results were stronger than expected, the outlook for the maker of baby apparel is expected to be more challenging, interim CEO Richard Westenberger says on a call with analysts. The company had to lower prices to better compete against its rivals, with its first-half performance expected to have some residual impact of carrying forward these lower prices from the second half of 2024. Overall, the company cut its prices by $1 to $2 in about 20% of its assortment. "Continuing to lower prices is not envisioned to be a component of our longer-term strategy. Obviously," Westenberger says, while adding that the company will keep an eye on the competitive environment in this regard. Shares fall 15% to $44.02. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
February 25, 2025 12:12 ET (17:12 GMT)
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