** Shares in Carter's Inc CRI.N down 8.6% in late trade after the children's clothing co announced cutting its quarterly dividend to 25 cents/shr from 80 cents/shr in the first quarter blaming profit levels, challenging environment, likely cost hike from proposed U.S. tariffs
** Stock last traded at $33.61 after falling as low as $31.80 after the bell following regular session close of $36.77
** Doug Palladini, CEO since April, said previous div was "misaligned" with current profits against backdrop of challenging market environment, possibility CRI "may incur significantly higher product costs as the result of the new proposed tariffs on products imported into the United States"
** CRI said dividend would be payable on June 20 to shareholders of record as of June 2
** YTD stock down 32% as of Tuesday's close after falling 27.6% in 2024
(Reporting By Sinéad Carew)
((sinead.carew@thomsonreuters.com; +13322191897;))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.