Tearsheet

Carter's (CRI)

Market Price (12/26/2025): $31.72 | Market Cap: $1.1 Bil
Sector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods

Carter's (CRI)

Market Price (12/26/2025): $31.72
Market Cap: $1.1 Bil
Sector: Consumer Discretionary
Industry: Apparel, Accessories & Luxury Goods

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, Dividend Yield is 6.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 8.2%	Weak multi-year price returns 2Y Excs Rtn is -101%, 3Y Excs Rtn is -129%	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 88%
1	Megatrend and thematic drivers Megatrends include E-commerce & DTC Adoption, Sustainable Consumption, and Health & Wellness Trends. Themes include Direct-to-Consumer Brands (Staples), Show more.	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.5%, Rev Chg QQuarterly Revenue Change % is -0.1%
2			Key risks CRI key risks include [1] intense pricing pressure within the highly competitive children's apparel market and [2] supply chain cost and tariff exposures from its heavy reliance on Asian manufacturing.

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 15%, Dividend Yield is 6.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 11%, FCF Yield is 8.2%
1	Megatrend and thematic drivers Megatrends include E-commerce & DTC Adoption, Sustainable Consumption, and Health & Wellness Trends. Themes include Direct-to-Consumer Brands (Staples), Show more.
2	Weak multi-year price returns 2Y Excs Rtn is -101%, 3Y Excs Rtn is -129%
3	Meaningful short interest Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 11%
4	Debt is significant Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 88%
5	Weak revenue growth Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -5.5%, Rev Chg QQuarterly Revenue Change % is -0.1%
6	Key risks CRI key risks include [1] intense pricing pressure within the highly competitive children's apparel market and [2] supply chain cost and tariff exposures from its heavy reliance on Asian manufacturing.

Valuation, Metrics & Events

	12/26/25	2024	2023	2022	2021
Share Price CYE	$31.72	$51.80	$68.19	$65.02	$84.93
Market Cap CYE ($ Bil)	1.1	1.8	2.5	2.4	3.7
Total Debt ($ Bil)	1.2	1.1	1.1	1.2	1.6
Total Cash ($ Bil)	0.2	0.4	0.4	0.2	1.0
Enterprise Value ($ Bil)	2.1	2.9	3.6	3.6	5.3
Valuation Ratios
P/S TTM	0.4	0.7	0.9	0.9	1.2
P/EBIT TTM	7.8	7.3	8.2	8.1	8.7
P/E TTM	12.6	10.4	11.8	11.6	12.8
P/FCF TTM	12.2	7.9	5.8	60.3	18.8
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9	0.8	1.4
P/EBIT TTM (Sector)	7.7	8.3	7.8	6.5	8.4
P/E TTM (Sector)	10.4	11.1	10.4	8.4	10.7
P/FCF TTM (Sector)	11.3	12.4	9.6	7.3	10.5

	12/26/25	2024	2023
Share Price CYE	$31.72	$51.80	$68.19
Market Cap CYE ($ Bil)	1.1	1.8	2.5
Total Debt ($ Bil)	1.2	1.1	1.1
Total Cash ($ Bil)	0.2	0.4	0.4
Enterprise Value ($ Bil)	2.1	2.9	3.6
Valuation Ratios
P/S TTM	0.4	0.7	0.9
P/EBIT TTM	7.8	7.3	8.2
P/E TTM	12.6	10.4	11.8
P/FCF TTM	12.2	7.9	5.8
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9
P/EBIT TTM (Sector)	7.7	8.3	7.8
P/E TTM (Sector)	10.4	11.1	10.4
P/FCF TTM (Sector)	11.3	12.4	9.6

	CRI	S&P 500
REVENUE GROWTH	VERY POOR
Rev LTM ($ Bil)	2.8
Rev Chg Q	-0.1%	7.3%
Rev Chg LTM	-0.3%	6.1%
Rev Chg 3Y Avg	-5.5%	5.5%
PROFITABILITY	VERY POOR
Op Inc LTM ($ Bil)	0.2
CFO LTM ($ Bil)	0.2
Net Inc LTM ($ Bil)	0.1
Op Mgn LTM	6.1%	18.8%
CFO/Rev LTM	5.3%	20.4%
Net Inc Mgn	3.1%	13.1%
VALUATION	LOW
P/S	0.4	3.3
P/CFO	7.4	15.8
P/FCF	12.2	20.7
P/E	12.6	23.5
STABILITY	POOR
Debt/Equity	1.05	0.21
Cash/Assets	0.07	0.07

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Metric	Value	Date	Source
Total Retail Stores	1065	9302025	Link
Loyalty Program Members	10 million	4052024	Link
Loyalty Program Transaction Percentage	86%	4052024	Link
Wholesale Locations	approximately 17,000	12312018	Link

Upcoming
2/24/2026	Earnings Release	Rev: - EPS: -
4/23/2026	Earnings Release	Rev: - EPS: -

CRI Stock

Return (1M):

Why The Stock Moved

Qualitative Assessment

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Between September 2, 2025, and December 23, 2025, Carter's (CRI) market capitalization increased by approximately 9.43%, reflecting a positive movement in its stock value. Several key factors contributed to this stock movement: 1. Increased Investor Interest and Stock Accumulation: The company adopted a limited duration stockholder rights agreement, often referred to as a "poison pill," on September 24, 2025. This action was taken in response to rapid stock accumulation, indicating significant investor interest that likely drove up the stock price.

2. Upward Revisions in Analyst Price Targets: Despite some mixed overall sentiment, several analyst firms raised their price targets for Carter's in late October 2025. Citigroup, for example, increased its price target to $34 from $28, and UBS raised its target to $33 from $26 on October 28, 2025. These upward revisions, even when maintaining "Hold" or "Sell" ratings, suggested a more positive outlook on the company's future value.

Show more Between September 2, 2025, and December 23, 2025, Carter's (CRI) market capitalization increased by approximately 9.43%, reflecting a positive movement in its stock value. Several key factors contributed to this stock movement: 1. Increased Investor Interest and Stock Accumulation: The company adopted a limited duration stockholder rights agreement, often referred to as a "poison pill," on September 24, 2025. This action was taken in response to rapid stock accumulation, indicating significant investor interest that likely drove up the stock price.

2. Upward Revisions in Analyst Price Targets: Despite some mixed overall sentiment, several analyst firms raised their price targets for Carter's in late October 2025. Citigroup, for example, increased its price target to $34 from $28, and UBS raised its target to $33 from $26 on October 28, 2025. These upward revisions, even when maintaining "Hold" or "Sell" ratings, suggested a more positive outlook on the company's future value.

3. Successful Senior Notes Offering: Carter's announced a proposed senior notes offering in late October 2025, which was subsequently upsized and priced. The successful closing of the sale of $575 million in 7.375% senior notes due 2031 by November 13, 2025, provided a significant capital infusion to the company. This could have been viewed favorably by investors as it bolstered the company's financial liquidity and capacity for operations or strategic initiatives.

4. Sustained Strategic Investments in Pricing and Marketing: Ongoing strategic investments in competitive pricing and brand marketing continued to show positive trends in the business. These investments were reported to be driving market share growth and improving e-commerce traffic, as highlighted in prior earnings reports and discussed as continuing strategic focuses for 2024 and beyond. The positive impact of these initiatives likely sustained investor confidence.

5. Consistent Shareholder Returns through Dividends: Carter's consistently declared its quarterly dividends, including one announced on November 13, 2025. Regular dividend payouts demonstrate the company's commitment to returning value to shareholders, which can enhance investor confidence and contribute to stock stability or appreciation. Show less

Stock Movement Drivers

Fundamental Drivers

The 13.3% change in CRI stock from 9/25/2025 to 12/25/2025 was primarily driven by a 72.9% change in the company's P/E Multiple.

	9252025	12252025	Change
Stock Price ($)	27.99	31.71	13.30%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2833.32	2832.69	-0.02%
Net Income Margin (%)	4.79%	3.15%	-34.39%
P/E Multiple	7.30	12.61	72.89%
Shares Outstanding (Mil)	35.41	35.44	-0.10%
Cumulative Contribution			13.30%

LTM = Last Twelve Months as of date shown

Market Drivers

9/25/2025 to 12/25/2025

	Return	Correlation
CRI	13.3%
Market (SPY)	4.9%	46.7%
Sector (XLY)	3.8%	51.6%

Fundamental Drivers

The 5.8% change in CRI stock from 6/26/2025 to 12/25/2025 was primarily driven by a 94.2% change in the company's P/E Multiple.

	6262025	12252025	Change
Stock Price ($)	29.98	31.71	5.76%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2812.44	2832.69	0.72%
Net Income Margin (%)	5.80%	3.15%	-45.74%
P/E Multiple	6.50	12.61	94.22%
Shares Outstanding (Mil)	35.31	35.44	-0.37%
Cumulative Contribution			5.75%

LTM = Last Twelve Months as of date shown

Market Drivers

6/26/2025 to 12/25/2025

	Return	Correlation
CRI	5.8%
Market (SPY)	13.1%	32.3%
Sector (XLY)	14.2%	39.4%

Fundamental Drivers

The -40.2% change in CRI stock from 12/25/2024 to 12/25/2025 was primarily driven by a -61.2% change in the company's Net Income Margin (%).

	12252024	12252025	Change
Stock Price ($)	53.06	31.71	-40.24%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	2842.25	2832.69	-0.34%
Net Income Margin (%)	8.11%	3.15%	-61.22%
P/E Multiple	8.13	12.61	55.24%
Shares Outstanding (Mil)	35.30	35.44	-0.40%
Cumulative Contribution			-40.24%

LTM = Last Twelve Months as of date shown

Market Drivers

12/25/2024 to 12/25/2025

	Return	Correlation
CRI	-40.2%
Market (SPY)	15.8%	44.3%
Sector (XLY)	5.3%	48.0%

Fundamental Drivers

The -50.4% change in CRI stock from 12/26/2022 to 12/25/2025 was primarily driven by a -60.4% change in the company's Net Income Margin (%).

	12262022	12252025	Change
Stock Price ($)	63.93	31.71	-50.40%
Change Contribution By	LTM	LTM
Total Revenues ($ Mil)	3362.70	2832.69	-15.76%
Net Income Margin (%)	7.94%	3.15%	-60.36%
P/E Multiple	9.16	12.61	37.76%
Shares Outstanding (Mil)	38.22	35.44	7.27%
Cumulative Contribution			-50.66%

LTM = Last Twelve Months as of date shown

Market Drivers

12/26/2023 to 12/25/2025

	Return	Correlation
CRI	-53.8%
Market (SPY)	48.3%	37.2%
Sector (XLY)	38.1%	40.5%

Return vs. Risk

Price Returns Compared

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
CRI Return	-13%	9%	-23%	5%	-24%	-39%	-65%
Peers Return	-10%	20%	-39%	12%	4%	-5%	-27%
S&P 500 Return	16%	27%	-19%	24%	23%	18%	115%
Monthly Win Rates [3]
CRI Win Rate	50%	58%	42%	42%	50%	33%
Peers Win Rate	50%	52%	33%	52%	50%	55%
S&P 500 Win Rate	58%	75%	42%	67%	75%	73%
Max Drawdowns [4]
CRI Max Drawdown	-42%	-12%	-35%	-16%	-30%	-55%
Peers Max Drawdown	-60%	-8%	-51%	-25%	-30%	-42%
S&P 500 Max Drawdown	-31%	-1%	-25%	-1%	-2%	-15%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: PLCE, PVH, RL, VFC, LEVI. See CRI Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/24/2025 (YTD)

How Low Can It Go

Unique Key	Event	CRI	S&P 500
2022 Inflation Shock	2022 Inflation Shock
2022 Inflation Shock% Loss	% Loss	-44.9%	-25.4%
2022 Inflation Shock% Gain to Breakeven	% Gain to Breakeven	81.4%	34.1%
2022 Inflation ShockTime to Breakeven	Time to Breakeven	Not Fully Recovered days	464 days
2020 Covid Pandemic	2020 Covid Pandemic
2020 Covid Pandemic% Loss	% Loss	-43.7%	-33.9%
2020 Covid Pandemic% Gain to Breakeven	% Gain to Breakeven	77.6%	51.3%
2020 Covid PandemicTime to Breakeven	Time to Breakeven	Not Fully Recovered days	148 days
2018 Correction	2018 Correction
2018 Correction% Loss	% Loss	-38.3%	-19.8%
2018 Correction% Gain to Breakeven	% Gain to Breakeven	62.1%	24.7%
2018 CorrectionTime to Breakeven	Time to Breakeven	Not Fully Recovered days	120 days
2008 Global Financial Crisis	2008 Global Financial Crisis
2008 Global Financial Crisis% Loss	% Loss	-54.4%	-56.8%
2008 Global Financial Crisis% Gain to Breakeven	% Gain to Breakeven	119.2%	131.3%
2008 Global Financial CrisisTime to Breakeven	Time to Breakeven	381 days	1,480 days

Compare to TPR, RL, PVH, COLM, HBI

In The Past

Carter's's stock fell -44.9% during the 2022 Inflation Shock from a high on 5/3/2021. A -44.9% loss requires a 81.4% gain to breakeven.

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About Carter's (CRI)

Business Description Analogies Products Customers Suppliers Management Key Risks Emerging Threats Market Size Revenue Drivers Capital Allocation

Carter's, Inc., together with its subsidiaries, designs, sources, and markets branded childrenswear under the Carter's, OshKosh, Skip Hop, Child of Mine, Just One You, Simple Joys, Carter's My First Love, little planet, and other brands in the United States and internationally. The company operates through three segments: U.S. Retail, U.S. Wholesale, and International. Its Carter's products include babies and young children products, such as bodysuits, pants, dresses, knit sets, blankets, layette essentials, bibs, booties, sleep and play products, rompers, and jumpers; and OshKosh brand products comprise playclothes, such as denim apparel products with multiple wash treatments and coordinating garments, overalls, woven bottoms, knit tops, and bodysuits. The company also provides products for playtime, travel, mealtime, bathtime, and homegear, as well as kid's bags and diaper bags under the Skip Hop brand. In addition, it offers bedding, cribs, diaper bags, footwear, gift sets, hair accessories, jewelry, outerwear, paper goods, socks, shoes, swimwear, and toys. The company operates 18,800 wholesale locations, including department stores, national chain stores, and specialty stores. As of December 31, 2021, it operated 980 retail stores. The company also sells its products through its eCommerce websites, such as carters.com, oshkoshbgosh.com, oshkosh.com, and skiphop.com, as well as other international wholesale accounts and licensees. Carter's, Inc. was founded in 1865 and is headquartered in Atlanta, Georgia.

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Here are 1-2 brief analogies to describe Carter's (CRI):

Like The Gap or Old Navy, but exclusively focused on apparel and accessories for babies and young children.
A specialized version of Target or Walmart, offering a full range of clothing and accessories, but only for the baby and kids' market.

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Carter's Branded Apparel: Offers a wide range of everyday clothing, sleepwear, and accessories for babies, toddlers, and young children.
OshKosh B'gosh Apparel: Provides durable, play-ready clothing, including its iconic overalls and denim, for children.
Skip Hop Products: Features innovative and stylish baby products such as diaper bags, toys, gear, and nursery essentials.

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Carter's (CRI) operates a significant hybrid business model, generating revenue through both wholesale sales to other retailers and direct-to-consumer sales via its own branded stores and e-commerce websites. While its direct-to-consumer segment is its largest revenue driver, Carter's explicitly identifies major wholesale customers that account for a substantial portion of its total net sales.

Major Wholesale Customers:

According to Carter's annual filings, specific large retailers are identified as major customers due to the significant percentage of Carter's total net sales they represent:

Target Corporation (TGT)
Walmart Inc. (WMT)

For example, in fiscal year 2023, Target Corporation accounted for approximately 18% of Carter's total net sales, and Walmart Inc. accounted for approximately 10% of Carter's total net sales.

Direct-to-Consumer Customer Categories:

Through its direct-to-consumer channels (Carter's, OshKosh B'gosh, and Skip Hop retail stores and e-commerce), Carter's serves primarily individuals falling into these categories:

Parents and Guardians: The primary demographic includes parents and guardians of infants, toddlers, and young children (up to size 14 for some brands) seeking everyday apparel, sleepwear, accessories, and related products for their children.
Gift-Givers: Individuals purchasing gifts for baby showers, birthdays, holidays, or other special occasions for children, such as grandparents, aunts/uncles, and friends.
First-Time Parents/Caregivers: Those preparing for a new baby, often looking for essential layette items, multi-packs, and foundational clothing sets.

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Douglas C. Palladini Chief Executive Officer & President

Douglas C. Palladini joined Carter's on April 3, 2025. Prior to his role at Carter's, he was the founder and owner of Kickstand, LLC, a consulting and advisory business focused on brand and consumer strategy, from April 2022 until March 2025. From July 2016 through March 2022, Mr. Palladini served as Global Brand President of Vans, a subsidiary of V.F. Corporation, having held various roles of increasing responsibility at Vans since June 2004.

Richard F. Westenberger Senior Executive Vice President, Chief Financial Officer & Chief Operating Officer

Richard F. Westenberger joined Carter's in 2009 as Executive Vice President & Chief Financial Officer. He was appointed Senior Executive Vice President, Chief Financial Officer & Chief Operating Officer in March 2024, and also served as Interim Chief Executive Officer from January 2025 to April 2025. Before joining Carter's, Mr. Westenberger served as Vice President of Corporate Finance and Treasurer of Hewitt Associates, Inc. from 2006 to 2008. From 1996 to 2006, he held various senior financial management positions at Sears Holdings Corporation and its predecessor organization, Sears, Roebuck and Co., including Senior Vice President & Chief Financial Officer of Lands' End, Inc. He was also with Kraft Foods, Inc. and began his career at Price Waterhouse LLP.

Sarah J. Crockett Chief Marketing Officer

Sarah J. Crockett joined Carter's in 2024 as Chief Marketing Officer. She previously served as Chief Marketing Officer of DICK'S Sporting Goods, Inc. from 2020 to 2024. Prior to that, she was Chief Marketing Officer of Vans from 2017 to 2020 and Chief Marketing Officer of Burton Snowboards from 2015 to 2017.

Julie A. D'Emilio Executive Vice President, Global Sales

Julie A. D'Emilio joined Carter's in August 2016 as Executive Vice President, Global Sales. From 2010 to 2016, she served as Group President, Wholesale at Ralph Lauren Corporation. Prior to that, Ms. D'Emilio held various leadership roles at Liz Claiborne Inc. from 1993 to 2010.

Emily D. Evert Chief Strategy Officer

Emily D. Evert joined Carter's in August 2025 as Chief Strategy Officer. Before joining Carter's, Ms. Evert served as a Managing Director and Partner at The Boston Consulting Group, Inc. from September 2021 through July 2025. Prior to that, she held various roles at AlixPartners, LLP from January 2014 to September 2021, including as a Director. Ms. Evert began her career with Alvarez & Marsal Holdings LLC.

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The key risks to Carter's (CRI) business are primarily influenced by macroeconomic conditions affecting consumer spending, a highly competitive market environment, and challenges within its supply chain, including rising costs and tariffs.

Macroeconomic Factors and Consumer Spending: Carter's business is highly sensitive to overall levels of consumer spending, confidence, and sentiment, particularly within the young children's apparel market. Elevated inflation rates and higher interest rates have negatively impacted consumer demand and retail sales, leading to lower traffic and demand in the U.S. and other international segments. This economic pressure can result in reduced discretionary spending by consumers, directly affecting Carter's sales and profitability.
Highly Competitive Market and Pricing Pressures: The company operates in an intensely competitive market for young children's apparel, facing significant competition from both branded and private-label manufacturers. This competitive landscape, along with a promotional retail environment, creates pricing pressure that can lead to lower margins and may require promotional pricing to move excess inventory, negatively impacting profitability. The emergence of online competitors has also intensified this pressure.
Supply Chain Disruptions, Increased Costs, and Tariffs: Carter's faces ongoing risks related to its supply chain, including inflationary pressures on critical cost components such as raw materials, labor, and transportation. The company's reliance on third-party manufacturing, predominantly in Asia, exposes it to potential supply chain disruptions and geopolitical tensions. Additionally, trade policies and tariffs have historically threatened Carter's cost structure, leading to higher product costs and impacting gross margins, although the impact can fluctuate with trade agreements.

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Proliferation of Specialized Direct-to-Consumer (DTC) Children's Apparel Brands

The rapid growth of online-first, specialized children's apparel brands directly challenges Carter's broad market appeal. These agile DTC companies often focus on niche segments such as organic, sustainable, gender-neutral, or uniquely designed clothing and specialized items like premium sleepwear. Leveraging social media for brand building and direct-to-consumer sales channels, brands like Little Sleepies and Kyte BABY have quickly gained significant market share by catering to specific parent preferences and offering a distinct customer experience, fragmenting the broader children's apparel market.
Aggressive Expansion of Ultra-Low-Cost Fast Fashion E-commerce Giants

Global fast-fashion platforms such as Shein and Temu are aggressively expanding their offerings in children's apparel. These companies provide an enormous variety of trendy clothing at exceptionally low price points, driven by rapid production cycles and sophisticated digital marketing. Their ability to quickly introduce new styles at prices often significantly lower than traditional retailers poses a substantial threat to Carter's, particularly in the value segment, by eroding market share and exerting downward pressure on pricing across the industry.

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Carter's (symbol: CRI) operates in the market for baby and children's apparel, footwear, and accessories. Their main products include a wide range of clothing for newborns, infants, toddlers, and young children, along with accessories and footwear, marketed under brands such as Carter's, OshKosh B'gosh, Skip Hop, Child of Mine, Just One You, Simple Joys, and Little Planet. The addressable markets for Carter's main products are sizable:

The North American apparel market focused on newborn to 10-year-old children was valued at $34 billion in 2022.
The United States children's wear market was valued at approximately USD 52.55 billion in 2024 and is projected to reach USD 77.04 billion by 2034.
Globally, the children's wear market is valued at USD 284.68 billion in 2025 and is projected to climb to USD 378.95 billion by 2030.

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Here are the expected drivers of future revenue growth for Carter's (CRI) over the next 2-3 years:

Strategic Price Increases: Carter's plans to drive future revenue growth through price increases across its product assortments. This strategy is primarily aimed at offsetting the impact of higher tariffs and is expected to be a significant contributor to revenue gains in 2026. The company has already seen mid-single-digit average unit retail (AUR) increases in its U.S. retail business.
Growth in U.S. Retail and International Segments: The U.S. Retail and International segments have demonstrated consistent strength and growth. Carter's intends to capitalize on these segments, with U.S. retail showing positive comparable sales for two consecutive quarters. The company is also focused on geographic expansion, particularly in markets with higher birth rates like Brazil, to drive international growth.
Expansion of the Baby and "Age Up" Categories: The baby category continues to be a strong performer, with robust sales growth. Additionally, Carter's "Age Up" initiative targets apparel sales for children aged four to ten years old, a market significantly larger than the combined baby and toddler apparel markets, presenting a substantial growth opportunity.
E-commerce Growth and Digital Platform Enhancements: Carter's expects its e-commerce sales to grow to nearly 50% of its total U.S. retail sales over the next five years. The company aims to leverage digital platforms and enhance consumer experiences to drive this growth, indicating a continued focus on its online channels.

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Share Repurchases

In fiscal year 2024, Carter's returned a total of $166.7 million to shareholders through cash dividends and share repurchases.
During the first three quarters of fiscal 2024, the company repurchased and retired approximately 0.7 million shares of its common stock for $50.5 million.
As of August 19, 2021, Carter's had approximately $650.4 million remaining under outstanding share repurchase authorizations with no expiration date.

Capital Expenditures

For fiscal year 2025, Carter's projects approximately $65 million in capital expenditures.
In fiscal year 2024, capital expenditures were $65 million. These expenditures primarily focused on U.S. and international retail store openings and remodels, investments in distribution facilities, and strategic information technology initiatives.
Capital expenditures were $60 million in fiscal year 2023.

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AMZN (11.3%)

Amazon.com

TSLA (9.3%)

Tesla

MCD (4.2%)

McDonald's

HD (1.9%)

Home Depot

Higher Op Mgn LTM (Value for CRI: 6.1%)

MCD (46.1%)

McDonald's

BKNG (34.5%)

Booking

HD (13.0%)

Home Depot

AMZN (11.4%)

Amazon.com

TJX (11.3%)

TJX Companies

Higher CFO/Rev LTM (Value for CRI: 5.3%)

MCD (39.9%)

McDonald's

BKNG (33.2%)

Booking

AMZN (18.1%)

Amazon.com

TSLA (16.5%)

Tesla

HD (10.6%)

Home Depot

Higher FCF/Rev LTM (Value for CRI: 3.2%)

BKNG (31.9%)

Booking

MCD (28.1%)

McDonald's

HD (8.4%)

Home Depot

TJX (7.5%)

TJX Companies

TSLA (7.1%)

Tesla

Higher Total Yield (Value for CRI: 14.7%)

BRSL (35.1%)

Brightstar Lottery

BYD (27.3%)

Boyd Gaming

BBWI (21.5%)

Bath & Body Works

GHC (15.6%)

Graham

BKE (14.8%)

Buckle

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for CRI: -5.5% | 0.4x)

MCK (12.6% | 0.3x)

McKesson

CVS (7.7% | 0.3x)

CVS Health

ELV (8.4% | 0.4x)

Elevance Health

CI (13.6% | 0.3x)

Cigna

COR (10.4% | 0.2x)

Cencora

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CRI: -5.5% | 6.5x)

VZ (0.5% | 5.4x)

Verizon Communications

CMCSA (0.7% | 4.9x)

Comcast

FISV (6.8% | 6.0x)

Fiserv

FI (7.5% | 5.5x)

Fiserv

IBKR (48.1% | 3.5x)

Interactive Brokers

Higher Rev Chg LTM (Value for CRI: -0.3%)

NVDA (65.2%)

NVIDIA

META (21.3%)

Meta Platforms

MSFT (15.6%)

Microsoft

GOOGL (13.4%)

Alphabet

AAPL (6.0%)

Apple

Higher Rev Chg 3Y Avg (Value for CRI: -5.5%)

NVDA (91.6%)

NVIDIA

META (17.3%)

Meta Platforms

MSFT (13.2%)

Microsoft

GOOGL (11.0%)

Alphabet

AAPL (1.8%)

Apple

Higher Op Mgn LTM (Value for CRI: 6.1%)

NVDA (58.8%)

NVIDIA

MSFT (46.3%)

Microsoft

META (43.2%)

Meta Platforms

GOOGL (32.2%)

Alphabet

AAPL (31.9%)

Apple

Higher CFO/Rev LTM (Value for CRI: 5.3%)

META (56.8%)

Meta Platforms

MSFT (50.0%)

Microsoft

NVDA (44.4%)

NVIDIA

GOOGL (39.3%)

Alphabet

AAPL (26.6%)

Apple

Higher FCF/Rev LTM (Value for CRI: 3.2%)

NVDA (41.3%)

NVIDIA

MSFT (26.6%)

Microsoft

META (23.7%)

Meta Platforms

AAPL (23.5%)

Apple

GOOGL (19.1%)

Alphabet

Higher Total Yield (Value for CRI: 14.7%)

CMCSA (25.1%)

Comcast

VZ (18.3%)

Verizon Communications

CNQ (16.6%)

Canadian Natural Resources

MO (15.8%)

Altria

TDG (15.3%)

TransDigm

		Best Bets In Consumer Discretionary Sector
	CRI	ABNB	BKNG	DUOL	MCD	ETSY	LOPE	ALSN	GRMN	CROX	WH
What You Pay
P/E	12.6	31.8	35.0	21.5	26.5	30.5	22.1	12.1	25.1	21.4	17.3
P/EBIT	7.8	30.9	21.0	78.3	18.3	13.4	14.7	8.9	22.2	18.6	10.2
What You Get
Rev Chg Q	-0.1%	9.7%	12.7%	41.1%	3.0%	2.4%	9.6%	-15.9%	11.7%	3.4%	-3.5%
Rev Chg LTM	-0.3%	10.2%	13.0%	39.9%	1.2%	2.0%	7.0%	-4.2%	16.6%	2.0%	3.4%
Rev Chg 3Y Avg	-5.5%	14.2%	17.8%	41.7%	4.2%	4.9%	6.5%	4.6%	12.2%	14.5%	-2.5%
FCF/Rev 3Y Avg	9.4%	40.2%	35.6%	30.3%	27.4%	23.8%	21.8%	21.0%	20.5%	19.8%	19.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

	Title	Topic
0	DASHBOARDS
1	Carter's Earnings Notes
2	Is Carter's Stock Built to Withstand a Pullback?	Return
3	Day 7 of Gains Streak for Carter's Stock with 16% Return (vs. -44% YTD) [9/2/2025]	Notification
4	Day 6 of Gains Streak for Carter's Stock with 14% Return (vs. -45% YTD) [8/29/2025]	Notification
5	CRI Dip Buy Analysis
6	Carter's Total Shareholder Return (TSR): -13.6% in 2024 and -8.0% 3-yr compounded annual returns (below peer average)
7	Carter's (CRI) Operating Cash Flow Comparison	Financials
8	Carter's (CRI) Net Income Comparison	Financials
9	Carter's (CRI) Operating Income Comparison	Financials
10	Carter's (CRI) Revenue Comparison	Financials

	Title
0	ARTICLES

Trade Ideas

Select ideas related to CRI. For more, see Trefis Trade Ideas.

Unique Key	Date	Ticker	Company	Category	Trade Strategy	6M Fwd Rtn	12M Fwd Rtn	12M Max DD
BBWI_11302025_Dip_Buyer_1M_Insider_Buying_GTE_1Mil_EBITp+DE	11302025	BBWI	Bath & Body Works	Dip Buy	DB \| Insider Buys \| Low D/EDip Buy with Strong Insider Buying Buying dips for companies with strong insider buying in the last 1 month, positive operating income and reasonable debt / market cap	13.3%	13.3%	0.0%
HRB_11262025_Dip_Buyer_FCFYield	11262025	HRB	H&R Block	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	5.3%	5.3%	-0.1%
LRN_11262025_Dip_Buyer_FCFYield	11262025	LRN	Stride	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	3.4%	3.4%	-4.4%
ABNB_11212025_Dip_Buyer_FCFYield	11212025	ABNB	Airbnb	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	19.7%	19.7%	0.0%
MTN_11212025_Dip_Buyer_FCFYield	11212025	MTN	Vail Resorts	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	1.8%	1.8%	-1.6%
CRI_8312022_Dip_Buyer_ValueBuy	08312022	CRI	Carter's	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	4.1%	2.2%	-13.2%
CRI_3312020_Dip_Buyer_ValueBuy	03312020	CRI	Carter's	Dip Buy	DB \| P/E OPMDip Buy with Low PE and High Margin Buying dips for companies with tame PE and meaningfully high operating margin	30.3%	35.3%	-4.5%
CRI_12312018_Dip_Buyer_FCFYield	12312018	CRI	Carter's	Dip Buy	DB \| FCFY OPMDip Buy with High FCF Yield and High Margin Buying dips for companies with high FCF yield and meaningfully high operating margin	18.0%	36.8%	-4.2%

Recent Active Movers

Top Gainers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
OMER	Omeros	0.9	75.5%	55.5%
DVAX	Dynavax Technologies	1.8	38.2%	20.4%
EWTX	Edgewise Therapeutics	2.9	25.5%	2.2%
AGIO	Agios Pharmaceuticals	1.7	18.6%	-11.2%
TVTX	Travere Therapeutics	3.6	13.9%	131.2%
KOD	Kodiak Sciences	1.6	13.2%	212.4%
RZLT	Rezolute	0.3	13.2%	-44.1%
UP	Wheels Up Experience	0.5	11.7%	-57.4%
FBYD	Falcons Beyond Global	0.7	9.5%	129.7%
BW	Babcock & Wilcox Enterprises	0.5	8.5%	226.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1D Rtn	YTD Rtn
ASTS	AST SpaceMobile	18.9	-8.9%	269.9%
QBTS	D-Wave Quantum	9.4	-5.5%	227.6%
NNE	Nano Nuclear Energy	1.2	-4.6%	21.7%
MNMD	Mind Medicine	1.2	-4.2%	93.0%
PPTA	Perpetua Resources	2.0	-4.0%	149.1%
KOS	Kosmos Energy	0.4	-4.0%	-73.6%
FRMI	Fermi	5.5	-4.0%	-75.7%
EXOD	Exodus Movement	0.4	-3.9%	-50.5%
TLRY	Tilray Brands	10.8	-3.6%	-23.7%
AEHR	Aehr Test Systems	0.7	-3.1%	32.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
OMER	Omeros	0.9	74.0%	55.5%
LUNR	Intuitive Machines	2.0	63.7%	-8.0%
AAOI	Applied Optoelectronics	2.6	51.1%	11.2%
FBYD	Falcons Beyond Global	0.7	47.2%	129.7%
FLY	Firefly Aerospace	3.8	45.9%	-55.2%
RKLB	Rocket Lab	39.8	43.0%	203.0%
DVAX	Dynavax Technologies	1.8	42.5%	20.4%
UAMY	United States Antimony	0.8	39.9%	258.8%
DJT	Trump Media & Technology	4.0	36.7%	-58.0%
RZLT	Rezolute	0.3	36.3%	-44.1%

Top Losers

Ticker	Company	Mkt Cap (B)	1W Rtn	YTD Rtn
NOW	ServiceNow	31.7	-80.5%	-28.0%
TPL	Texas Pacific Land	6.8	-66.5%	-19.2%
LW	Lamb Weston	6.0	-28.6%	-34.8%
TLRY	Tilray Brands	10.8	-21.2%	-23.7%
INSP	Inspire Medical Systems	2.8	-19.1%	-48.4%
TDUP	ThredUp	0.8	-17.1%	354.7%
OLMA	Olema Pharmaceuticals	2.3	-15.8%	370.8%
IIPR	Innovative Industrial Properties	1.4	-12.9%	-15.7%
ABM	ABM Industries	2.6	-12.6%	-15.8%
FRMI	Fermi	5.5	-12.6%	-75.7%

Top Gainers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
WVE	WAVE Life Sciences	3.0	144.6%	47.5%
TE	T1 Energy	1.1	124.5%	418.4%
ANF	Abercrombie & Fitch	6.0	93.2%	-15.2%
VERA	Vera Therapeutics	3.6	90.4%	31.6%
LUNR	Intuitive Machines	2.0	85.7%	-8.0%
AAOI	Applied Optoelectronics	2.6	82.5%	11.2%
RKLB	Rocket Lab	39.8	81.8%	203.0%
PL	Planet Labs PBC	6.2	76.1%	403.0%
NRGV	Energy Vault	0.8	66.9%	118.9%
FLY	Firefly Aerospace	3.8	60.4%	-55.2%

Top Losers

Ticker	Company	Mkt Cap (B)	1M Rtn	YTD Rtn
RZLT	Rezolute	0.3	-72.0%	-44.1%
JANX	Janux Therapeutics	0.9	-54.6%	-73.3%
LENZ	LENZ Therapeutics	0.5	-46.3%	-40.6%
FRMI	Fermi	5.5	-45.2%	-75.7%
GOGO	Gogo	0.6	-34.1%	-43.0%
HPK	HighPeak Energy	0.6	-30.8%	-69.2%
ORIC	ORIC Pharmaceuticals	0.7	-28.5%	4.5%
FDMT	4D Molecular Therapeutics	0.5	-25.6%	45.4%
NKTR	Nektar Therapeutics	0.6	-25.1%	215.0%
LW	Lamb Weston	6.0	-24.8%	-34.8%

Peer Comparisons for Carter's

Peers to compare with:

Financials

	CRI	PLCE	PVH	RL	VFC	LEVI	Median
Name	Carter's	Children.	PVH	Ralph La.	VF	Levi Str.
Mkt Price	31.71	4.03	68.91	361.52	18.34	21.18	26.45
Mkt Cap	1.1	0.1	3.3	22.1	7.2	8.4	5.2
Rev LTM	2,833	1,288	8,817	7,571	9,541	6,589	7,080
Op Inc LTM	172	-10	656	1,153	468	716	562
FCF LTM	92	40	442	668	240	324	282
FCF 3Y Avg	275	-52	508	716	285	278	281
CFO LTM	151	54	584	1,090	375	560	467
CFO 3Y Avg	332	-28	707	981	455	538	497

Growth & Margins

	CRI	PLCE	PVH	RL	VFC	LEVI	Median
Name	Carter's	Children.	PVH	Ralph La.	VF	Levi Str.
Rev Chg LTM	-0.3%	-10.1%	0.5%	12.3%	-0.1%	11.2%	0.2%
Rev Chg 3Y Avg	-5.5%	-9.9%	-0.5%	5.8%	-6.7%	1.9%	-3.0%
Rev Chg Q	-0.1%	-13.0%	1.7%	16.5%	1.6%	7.0%	1.7%
QoQ Delta Rev Chg LTM	-0.0%	-3.8%	0.4%	3.9%	0.5%	1.5%	0.5%
Op Mgn LTM	6.1%	-0.7%	7.4%	15.2%	4.9%	10.9%	6.8%
Op Mgn 3Y Avg	9.0%	-2.5%	8.2%	13.2%	5.2%	8.9%	8.5%
QoQ Delta Op Mgn LTM	-1.7%	-1.9%	0.1%	0.6%	0.4%	0.3%	0.2%
CFO/Rev LTM	5.3%	4.2%	6.6%	14.4%	3.9%	8.5%	6.0%
CFO/Rev 3Y Avg	11.4%	-1.7%	7.9%	14.1%	4.7%	8.7%	8.3%
FCF/Rev LTM	3.2%	3.1%	5.0%	8.8%	2.5%	4.9%	4.1%
FCF/Rev 3Y Avg	9.4%	-3.3%	5.7%	10.4%	3.0%	4.5%	5.1%

Valuation

	CRI	PLCE	PVH	RL	VFC	LEVI	Median
Name	Carter's	Children.	PVH	Ralph La.	VF	Levi Str.
Mkt Cap	1.1	0.1	3.3	22.1	7.2	8.4	5.2
P/S	0.4	0.1	0.4	2.9	0.8	1.3	0.6
P/EBIT	7.8	-9.4	15.5	19.8	18.0	12.3	13.9
P/E	12.6	-1.7	9.6	25.9	79.3	13.9	13.3
P/CFO	7.4	1.7	5.6	20.3	19.1	15.0	11.2
Total Yield	14.7%	-57.9%	10.6%	4.8%	3.2%	9.1%	6.9%
Dividend Yield	6.8%	0.0%	0.1%	0.9%	2.0%	1.9%	1.4%
FCF Yield 3Y Avg	13.1%	-18.2%	10.6%	6.1%	4.1%	2.8%	5.1%
D/E	1.0	6.5	1.3	0.1	0.8	0.3	0.9
Net D/E	0.9	6.4	1.3	0.1	0.7	0.2	0.8

Returns

	CRI	PLCE	PVH	RL	VFC	LEVI	Median
Name	Carter's	Children.	PVH	Ralph La.	VF	Levi Str.
1M Rtn	1.6%	-47.9%	-16.0%	-0.8%	6.9%	-2.4%	-1.6%
3M Rtn	13.3%	-36.5%	-19.6%	19.7%	28.1%	-6.5%	3.4%
6M Rtn	5.8%	-11.8%	6.0%	33.0%	59.7%	17.7%	11.9%
12M Rtn	-40.2%	-59.3%	-36.4%	58.3%	-14.3%	25.0%	-25.4%
3Y Rtn	-50.4%	-89.3%	-1.1%	267.2%	-22.8%	49.4%	-12.0%
1M Excs Rtn	2.6%	-50.8%	-14.8%	-0.1%	9.2%	-1.3%	-0.7%
3M Excs Rtn	8.3%	-41.5%	-24.5%	14.8%	23.1%	-11.5%	-1.6%
6M Excs Rtn	-7.1%	-24.7%	-6.9%	20.1%	46.8%	4.9%	-1.0%
12M Excs Rtn	-57.3%	-77.6%	-52.6%	42.3%	-32.7%	8.5%	-42.7%
3Y Excs Rtn	-129.2%	-170.7%	-81.1%	190.4%	-104.3%	-34.8%	-92.7%

FDIC Bank Data

$ Mil \| FY: 12/28	LTM	2024	2023	2022	2021	2020	2019
Period End	9/27/2025	12/28/2024	12/30/2023	12/31/2022	1/1/2022	1/2/2021	12/28/2019
Filing Date	10/27/2025	2/25/2025	2/27/2024	2/24/2023	2/25/2022	2/26/2021	2/24/2020
Key Financials
Total Revenue	2,833	2,844	2,946	3,213	3,486	3,024	3,519
EBITDA	200	320	400	425	593	285	462
Operating Income	172	285	323	388	497	234	403
Net Income	89	186	232	250	340	110	264
EPS	2.47	5.12	6.24	6.34	7.83	2.51	5.89
Growth Rates
Total Revenue Growth	-0.3%	-3.4%	-8.3%	-7.9%	15.3%	-14.1%	1.6%
EBITDA Growth	-47.9%	-20.1%	-5.8%	-28.3%	107.9%	-38.2%	-3.9%
Operating Income Growth	-43.9%	-12.0%	-16.7%	-21.9%	112.3%	-41.9%	2.9%
Net Income Growth	-61.3%	-20.2%	-7.0%	-26.4%	209.7%	-58.4%	-6.5%
Margins
EBITDA Margin	7.0%	11.3%	13.6%	13.2%	17.0%	9.4%	13.1%
Operating Income Margin	6.1%	10.0%	11.0%	12.1%	14.3%	7.7%	11.4%
Net Income Margin	3.1%	6.5%	7.9%	7.8%	9.7%	3.6%	7.5%
Cash & Debt
Total Cash	184	413	351	212	984	1,102	214
Total Debt	1,178	1,130	1,082	1,181	1,567	1,729	1,419
Net Debt / (Cash)	994	717	730	969	583	627	1,205
Cash Flows
Net Cash from Operations	151	299	529	88	268	588	387
Free Cash from Operations	92	243	469	48	231	556	326
Returns to Shareholders
Dividends	76	116	112	118	60	26	90
Share Repurchases	-0	51	100	300	299	45	197

$ Mil \| FY: 12/28	2025Q3	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4
Period End	9/27/2025	6/28/2025	3/29/2025	12/28/2024	9/28/2024	6/29/2024	3/30/2024	12/30/2023	9/30/2023	7/1/2023	4/1/2023	12/31/2022
Filing Date	10/27/2025	7/25/2025	4/25/2025	2/25/2025	10/25/2024	7/26/2024	4/26/2024	2/27/2024	10/27/2023	7/28/2023	4/28/2023	2/24/2023
Key Financials Quarterly
Total Revenue	758	585	630	860	758	564	661	858	792	600	696	912
Ebitda	36	23	42	98	93	57	73	161	110	56	73	126
Operating Income	29	4	26	113	77	39	55	136	93	38	56	119
Net Income	12	0	16	62	58	28	38	107	66	24	36	80
EPS	0.32	0.01	0.43	1.71	1.62	0.76	1.04	2.90	1.78	0.64	0.95	2.11
Key Financials TTM
Total Revenue TTM	2,833	2,833	2,812	2,844	2,842	2,875	2,911	2,946	3,000	3,027	3,127	3,213
Ebitda TTM	200	256	290	320	383	401	400	400	365	363	380	425
Operating Income TTM	172	220	256	285	308	324	322	323	306	304	342	388
Net Income TTM	89	136	163	186	231	238	235	232	206	205	218	250
Growth Rates Quarterly
Total Revenue Growth	-0.1%	3.7%	-4.8%	0.2%	-4.2%	-6.0%	-4.9%	-5.9%	-3.3%	-14.3%	-10.9%	-14.1%
EBITDA Growth	-61.3%	-59.2%	-41.6%	-39.1%	-15.9%	0.9%	-0.5%	27.7%	2.2%	-23.3%	-37.9%	-23.0%
Operating Income Growth	-62.2%	-89.7%	-52.6%	-16.8%	-17.5%	5.0%	-2.3%	14.8%	2.0%	-50.2%	-45.1%	-14.1%
Net Income Growth	-80.1%	-98.4%	-59.1%	-42.2%	-11.8%	15.8%	5.7%	32.8%	1.8%	-35.4%	-47.0%	-17.3%
Margins Quarterly
EBITDA Margin	4.7%	3.9%	6.7%	11.4%	12.2%	10.0%	11.0%	18.8%	13.9%	9.4%	10.5%	13.8%
Operating Income Margin	3.8%	0.7%	4.1%	13.2%	10.2%	7.0%	8.3%	15.9%	11.8%	6.3%	8.1%	13.0%
Net Income Margin	1.5%	0.1%	2.5%	7.2%	7.7%	4.9%	5.7%	12.4%	8.4%	4.0%	5.2%	8.8%
Cash & Debt
Total Cash	184	338	321	413	176	317	268	351	169	175	158	212
Total Debt	1,178	1,124	1,123	1,130	1,114	1,063	1,075	1,082	1,130	1,055	1,133	1,181
Net Debt / (Cash)	994	786	802	717	938	747	808	730	961	881	975	969
Cash Flows Quarterly
FCF from Operations	-128	40	-49	287	-80	117	-26	323	-3	167	42	306
Cash Flows TTM
FCF from Operations TTM	151	199	276	299	335	412	461	529	512	391	294	88
Returns to Shareholders Quarterly
Dividends	9	9	29	29	29	29	29	28	28	28	28	29
Share Repurchases	-0	-0	-0	-0	17	25	9	33	28	30	10	58
Return on Invested Capital (ROIC) Quarterly
ROIC	9.1%	0.5%	9.5%	51.3%	27.1%	17.0%	20.8%	57.5%	30.1%	13.0%	17.4%	39.1%
Return on Invested Capital (ROIC) TTM
ROIC TTM	13.6%	22.5%	25.7%	31.9%	25.8%	33.6%	30.7%	34.1%	24.8%	27.2%	27.7%	31.6%

Segment Financials

Revenue by Segment

$ Mil	2024	2023	2022	2021	2020
Baby	1,098	1,103	1,125	1,027	1,229
Playclothes	993	1,125	1,262	1,052	1,363
Other	443	492	599	504	499
Sleepwear	412	492	501	441	429
Total	2,946	3,213	3,486	3,024	3,519

Price Behavior

Price Behavior

Market Price	$31.71
Market Cap ($ Bil)	1.1
First Trading Date	10/28/2003
Distance from 52W High	-40.6%
	50 Days	200 Days
DMA Price	$31.38	$31.42
DMA Trend	down	up
Distance from DMA	1.0%	0.9%
	3M	1YR
Volatility	47.5%	57.9%
Downside Capture	133.36	161.33
Upside Capture	162.28	87.29
Correlation (SPY)	47.5%	44.2%

CRI Betas & Captures as of 11/30/2025

	1M	2M	3M	6M	1Y	3Y
Beta	1.61	1.82	1.77	1.61	1.29	1.00
Up Beta	0.93	2.33	2.88	2.48	1.72	1.36
Down Beta	-2.51	1.89	1.65	1.60	0.78	0.76
Up Capture	268%	229%	178%	112%	83%	35%
Bmk +ve Days	12	25	38	73	141	426
Stock +ve Days	9	21	31	65	125	382
Down Capture	220%	131%	134%	141%	128%	103%
Bmk -ve Days	7	16	24	52	107	323
Stock -ve Days	10	20	31	60	123	364

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Based On 1-Year Data

		Comparison of CRI With Other Asset Classes (Last 1Y)
	CRI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-39.3%	8.3%	19.2%	71.9%	8.9%	6.0%	-10.1%
Annualized Volatility	57.5%	24.3%	19.5%	19.3%	15.3%	17.1%	35.0%
Sharpe Ratio	-0.64	0.27	0.78	2.69	0.36	0.18	-0.12
Correlation With Other Assets		47.8%	44.3%	4.2%	23.8%	41.0%	24.5%

ETFs used for asset classes: Sector ETF = XLY, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How

Based On 5-Year Data

		Comparison of CRI With Other Asset Classes (Last 5Y)
	CRI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-16.0%	9.8%	14.9%	18.7%	11.7%	4.8%	32.7%
Annualized Volatility	39.3%	23.8%	17.1%	15.5%	18.7%	18.9%	48.7%
Sharpe Ratio	-0.33	0.37	0.70	0.97	0.51	0.17	0.60
Correlation With Other Assets		46.7%	45.4%	6.4%	14.3%	41.4%	19.2%

Based On 10-Year Data

		Comparison of CRI With Other Asset Classes (Last 10Y)
	CRI	Sector ETF	Equity	Gold	Commodities	Real Estate	Bitcoin
Annualized Return	-7.5%	13.1%	14.7%	14.9%	6.9%	5.2%	69.3%
Annualized Volatility	36.6%	22.0%	18.0%	14.8%	17.6%	20.8%	55.8%
Sharpe Ratio	-0.10	0.55	0.70	0.83	0.31	0.22	0.90
Correlation With Other Assets		50.9%	49.7%	0.3%	17.4%	43.5%	14.6%

Short Interest

Short Interest: As Of Date	12152025
Short Interest: Shares Quantity	3,968,872
Short Interest: % Change Since 11302025	-8.4%
Average Daily Volume	998,424
Days-to-Cover Short Interest	3.98
Basic Shares Quantity	35,443,712
Short % of Basic Shares	11.2%

Returns Analyses

	Title
0	Is Carter's Stock Built to Withstand a Pullback?
1	Carter's Stock Return Comparison
2	[10/6/2021] Carter's (CRI) Stock Price Forecast: AI Forecasts CRI Stock Price To Be Around $91.6 In A Month (Up 0.2%)
3	Carter's Total Shareholder Return (TSR): -23.3% in 2022 and -10.2% 3-yr returns (below peer average)
4	Carter's (CRI) Stock Return: AI Predicts CRI Average and Excess Return After a Fall or Rise

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
10/27/2025	1.9%	-2.9%	-6.7%
7/25/2025	-19.7%	-26.0%	-19.7%
2/25/2025	-16.1%	-19.3%	-18.3%
10/25/2024	-13.3%	-16.7%	-17.8%
7/26/2024	-4.3%	-2.3%	10.8%
2/27/2024	-1.1%	-1.1%	1.7%
10/27/2023	0.2%	7.2%	5.6%
7/28/2023	1.1%	2.4%	-8.1%
...
SUMMARY STATS
# Positive	8	8	9
# Negative	11	11	10
Median Positive	0.6%	3.0%	5.2%
Median Negative	-5.1%	-12.3%	-9.4%
Max Positive	10.4%	10.4%	22.6%
Max Negative	-19.7%	-26.0%	-40.7%

	Forward Returns
10/27/2025	1.9%	-2.9%	-6.7%
7/25/2025	-19.7%	-26.0%	-19.7%
2/25/2025	-16.1%	-19.3%	-18.3%
10/25/2024	-13.3%	-16.7%	-17.8%
7/26/2024	-4.3%	-2.3%	10.8%
2/27/2024	-1.1%	-1.1%	1.7%
10/27/2023	0.2%	7.2%	5.6%
7/28/2023	1.1%	2.4%	-8.1%
2/24/2023	0.1%	2.5%	-4.2%
10/28/2022	-5.1%	-13.0%	0.2%
7/29/2022	0.2%	0.6%	-5.4%
2/25/2022	10.4%	10.4%	8.6%
10/29/2021	-2.4%	2.8%	3.6%
7/30/2021	-0.8%	3.4%	5.2%
2/26/2021	-11.8%	-12.3%	-4.4%
10/23/2020	0.2%	-3.6%	0.6%
7/24/2020	4.8%	-5.4%	-10.6%
5/5/2020	-2.1%	3.2%	22.6%
2/24/2020	-12.7%	-17.4%	-40.7%
SUMMARY STATS
# Positive	8	8	9
# Negative	11	11	10
Median Positive	0.6%	3.0%	5.2%
Median Negative	-5.1%	-12.3%	-9.4%
Max Positive	10.4%	10.4%	22.6%
Max Negative	-19.7%	-26.0%	-40.7%

SEC Filings

Expand for More

Report Date	Filing Date	Filing
9302025	10272025	10-Q 9/27/2025
6302025	7252025	10-Q 6/28/2025
3312025	4252025	10-Q 3/29/2025
12312024	2252025	10-K 12/28/2024
9302024	10252024	10-Q 9/28/2024
6302024	7262024	10-Q 6/29/2024
3312024	4262024	10-Q 3/30/2024
12312023	2272024	10-K 12/30/2023
9302023	10272023	10-Q 9/30/2023
6302023	7282023	10-Q 7/1/2023
3312023	4282023	10-Q 4/1/2023
12312022	2242023	10-K 12/31/2022
9302022	10282022	10-Q 10/1/2022
6302022	7292022	10-Q 7/2/2022
3312022	4292022	10-Q 4/2/2022
12312021	2252022	10-K 1/1/2022

Insider Activity

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External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Carter's (CRI)

Market Price (12/26/2025): $31.72 | Market Cap: $1.1 BilSector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods

Carter's (CRI)

Market Price (12/26/2025): $31.72Market Cap: $1.1 BilSector: Consumer DiscretionaryIndustry: Apparel, Accessories & Luxury Goods

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

Valuation, Metrics & Events

CRI Stock

Why The Stock Moved

Qualitative Assessment

Stock Movement Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Fundamental Drivers

Market Drivers

Return vs. Risk

Price Returns Compared

How Low Can It Go

In The Past

Preserve Wealth

Asset Allocation

About Carter's (CRI)

Major Wholesale Customers:

Direct-to-Consumer Customer Categories:

Proliferation of Specialized Direct-to-Consumer (DTC) Children's Apparel Brands

Aggressive Expansion of Ultra-Low-Cost Fast Fashion E-commerce Giants

Interactive Breakdown

Better Bets than Carter's (CRI)

INDUSTRY: Apparel, Accessories & Luxury Goods

Higher Rev Chg 3Y Avg | Lower P/S (Values for CRI: -5.5% | 0.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CRI: -5.5% | 6.5x)

Higher Rev Chg LTM (Value for CRI: -0.3%)

Higher Rev Chg 3Y Avg (Value for CRI: -5.5%)

Higher Op Mgn LTM (Value for CRI: 6.1%)

Higher CFO/Rev LTM (Value for CRI: 5.3%)

Higher FCF/Rev LTM (Value for CRI: 3.2%)

SECTOR: Consumer Discretionary

Higher Rev Chg 3Y Avg | Lower P/S (Values for CRI: -5.5% | 0.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CRI: -5.5% | 6.5x)

Higher Rev Chg LTM (Value for CRI: -0.3%)

Higher Rev Chg 3Y Avg (Value for CRI: -5.5%)

Higher Op Mgn LTM (Value for CRI: 6.1%)

Higher CFO/Rev LTM (Value for CRI: 5.3%)

Higher FCF/Rev LTM (Value for CRI: 3.2%)

Higher Total Yield (Value for CRI: 14.7%)

All Other Sectors

Higher Rev Chg 3Y Avg | Lower P/S (Values for CRI: -5.5% | 0.4x)

Higher Rev Chg 3Y Avg | Lower P/Op Inc (Values for CRI: -5.5% | 6.5x)

Higher Rev Chg LTM (Value for CRI: -0.3%)

Higher Rev Chg 3Y Avg (Value for CRI: -5.5%)

Higher Op Mgn LTM (Value for CRI: 6.1%)

Higher CFO/Rev LTM (Value for CRI: 5.3%)

Higher FCF/Rev LTM (Value for CRI: 3.2%)

Higher Total Yield (Value for CRI: 14.7%)

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Market Price (12/26/2025): $31.72 | Market Cap: $1.1 Bil
Sector: Consumer Discretionary | Industry: Apparel, Accessories & Luxury Goods

Market Price (12/26/2025): $31.72
Market Cap: $1.1 Bil
Sector: Consumer Discretionary
Industry: Apparel, Accessories & Luxury Goods