Children's clothing retailer Carter's, which has several New York locations, announced plans to close 150 stores, reduce its product offerings and eliminate hundreds of jobs nationwide.

In a fiscal third-quarter report and Oct. 27 earnings call , the company, which is known for its Oshkosh B'gosh brand, said it would be closing "low-margin" stores — about 100 by 2026 — decrease their product offerings by 20-30% and reduce office-based roles by 15%, or about 300 jobs.

New U.S. location openings using the current store model have also been suspended, according to the company.

Here's what to know.

Why is Carter's planning to close stores and reduce staffing?

Tariffs are heavily affecting the company, Carter's Executive Vice President and CFO Richard Westenberger said during the earni

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