Aimee Dilger via LightRocket/SOPA Images
Key Takeaways
- Children's retailer Carter's on Wednesday announced that Doug Palladini will become its next CEO.
- Palladini was previously a brand leader for the Vans brand of V.F. Corporation's Vans brand.
- Carter's sales and profits declined in 2024, and shares have lost around half their value over the last year.
On Wednesday, the child and baby retailer Carter’s(CRI) announced that Doug Palladini would be its new CEO.
Palladini has recently founded his own consulting firm. He was previously global brand director for V.F. Corporation’s Vans brand (VFC). Carter’s announced in a press release that he will begin as CEO on April 3.
“I am eager to continue to advance the important work underway in our retail and wholesale businesses, further build upon Carter’s brand equity, and create lasting connections with our customers through accelerated relevance, inspiring products, and meaningful storytelling," Palladini said.
Carter's previous CEO Michael Casey announced his retirement in January following a more-than-15-year run as the retailer's top executive. The change comes as shares of the retailer that owns its namesake brand as well as the OshKosh B'Gosh brand are down nearly 50% over the last 12 months.
Carter’s latest earnings report last month showed revenue and earnings declining year-over-year. Sales and adjusted earnings per share are expected to continue to decline in the first quarter of 2025 and for the full year.
Carter's shares were up less than 1% Wednesday morning.
