Carter's, Inc. (CRI): History, Ownership, Mission, How It Works & Makes Money

Ever wondered about the story behind Carter's, Inc. (CRI), the largest branded marketer in North America of apparel exclusively for babies and young children? With a strong market presence and a history dating back to 1865, how does this company operate and generate revenue in today's competitive landscape? Keep reading to explore its journey, ownership structure, mission, and business model, complete with insights into its 2024 financial performance, including net sales of $2.844 billion and strategic initiatives.

Carter's, Inc. (CRI) History

Carter's, Inc. Founding Timeline

Year established

The company was established in 1865.

Original location

The original location was in Needham, Massachusetts.

Founding team members

William Carter founded the company.

Initial capital/funding

Information regarding the initial capital or funding is not readily available in the provided context.

Carter's, Inc. Evolution Milestones

Carter's, Inc. Transformative Moments

• Shift to Infant and Children's Wear: Early in the 1900s, the company transitioned from manufacturing mittens to focusing on infant and children's wear. This was a pivotal shift that set the stage for its future as a leader in this market.
• Introduction of Innovative Designs: In the 1950s, the introduction of the 'Jiffon' neck design was a game-changer. This design innovation improved the comfort and ease of dressing for babies, enhancing the brand's appeal to parents.
• Expansion of Retail Presence: The expansion into company-owned stores and partnerships with major retailers significantly broadened the company's reach and brand visibility.
• Acquisition of Skip Hop: In 2013, Carter's acquired Skip Hop, a global lifestyle brand for families with young children. This move expanded their product line beyond apparel to include items like diaper bags, playmats, and other baby essentials, catering to a broader range of needs for parents and young children.
• Focus on E-commerce: Recognizing the shift in consumer behavior, the company invested heavily in its online platform, driving significant growth in online sales and strengthening its digital presence.

To gain more insights into the company's financial standing, check out: Breaking Down Carter's, Inc. (CRI) Financial Health: Key Insights for Investors

Carter's, Inc. (CRI) Ownership Structure

As a publicly traded company, Carter’s, Inc. has a diverse ownership structure comprising individual and institutional investors. The company's governance is influenced by its board of directors and executive leadership team.

Carter's, Inc. Current Status

Carter's, Inc. is a publicly traded company, meaning its shares are available for purchase on the open market. It is listed on the New York Stock Exchange (NYSE) under the ticker symbol CRI.

Carter's, Inc. Ownership Breakdown

Understanding the ownership structure of Carter's, Inc. provides insights into who has influence over the company’s decisions. Here's a breakdown of the ownership percentages based on the latest available data:

Carter's, Inc. Leadership

The leadership team plays a crucial role in guiding the strategic direction of Carter's, Inc. As of April 2025, key figures include:

• Michael D. Casey: Chairman and Chief Executive Officer
• Richard F. Westenberger: Executive Vice President and Chief Financial Officer

These individuals, along with other members of the executive team, are responsible for the day-to-day operations and long-term growth of the company. Breaking Down Carter's, Inc. (CRI) Financial Health: Key Insights for Investors will provide more information.

Carter's, Inc. (CRI) Mission and Values

Carter's, Inc. strives to provide quality products and experiences that help families with young children by focusing on their needs and values. The company's mission and values reflect a commitment to its customers, employees, and the communities it serves.

Carter's, Inc. Core Purpose

Official mission statement

While a specific official mission statement for Carter's, Inc. can be difficult to pinpoint directly, their actions and communications emphasize a commitment to:

• Providing quality, safe, and innovative products for babies and young children.
• Making life easier and more convenient for parents.
• Offering great value to their customers.

For more in-depth information, you can check: Mission Statement, Vision, & Core Values of Carter's, Inc. (CRI).

Vision statement

Carter's, Inc.'s vision is centered around being the leading brand in young children's apparel. This involves:

• Continuing to innovate and create products that meet the evolving needs of families.
• Expanding their reach through various channels, including retail stores, online platforms, and wholesale partnerships.
• Maintaining a strong reputation for quality, value, and customer service.

Company slogan/tagline

Carter's, Inc. has used various slogans and taglines over the years to connect with their target audience. These include:

• 'Carter’s is with you from the start.' - This highlights their long-standing presence and commitment to families from the beginning of parenthood.
• Focus on quality, trust, and heritage.

Carter's, Inc. (CRI) How It Works

Carter's, Inc. operates as a leading provider of apparel and related products exclusively for babies and young children. The company primarily designs, sources, and markets its products through various channels, including its own retail stores, wholesale accounts, and online platforms.

Carter's, Inc. Product/Service Portfolio

Carter's, Inc. Operational Framework

Carter's, Inc. has established a robust operational framework to ensure efficient product development, sourcing, distribution, and sales. Key aspects of its operations include:

• Design and Product Development: A dedicated team of designers and product developers create innovative and appealing products that meet the needs and preferences of parents and children.
• Global Sourcing: The company utilizes a global sourcing network to procure high-quality materials and manufacture its products at competitive costs.
• Multi-Channel Distribution: Carter's distributes its products through a diverse range of channels, including:
  • Retail Stores: Company-operated stores provide a direct-to-consumer channel for showcasing and selling products.
  • Wholesale Accounts: Partnerships with major retailers and department stores expand the company's reach and market penetration.
  • E-commerce Platforms: Online platforms, including the company's website and third-party marketplaces, offer convenient shopping options for customers.
• Supply Chain Management: Carter's employs sophisticated supply chain management techniques to optimize inventory levels, reduce lead times, and ensure timely delivery of products to customers.
• Marketing and Branding: The company invests in marketing and branding initiatives to build brand awareness, drive customer loyalty, and promote its products through various channels, including digital marketing, social media, and advertising.

To delve deeper into the ownership structure and investor landscape, check out this insightful piece: Exploring Carter's, Inc. (CRI) Investor Profile: Who’s Buying and Why?

Carter's, Inc. Strategic Advantages

Carter's, Inc. benefits from several strategic advantages that contribute to its market leadership and financial performance:

• Brand Recognition and Reputation: Carter's is a well-known and trusted brand among parents, recognized for its quality, value, and reliability.
• Extensive Distribution Network: The company's multi-channel distribution network provides broad market access and enables it to reach a diverse customer base.
• Product Innovation and Design Capabilities: Carter's continuous focus on product innovation and design allows it to stay ahead of market trends and meet evolving customer needs.
• Strong Financial Performance: Carter's has a track record of strong financial performance, including consistent revenue growth, profitability, and cash flow generation. In the fiscal year 2024, Carter's reported net sales of $2.98 billion.
• Scale and Efficiency: The company's scale and efficient operations provide it with cost advantages and enable it to compete effectively in the market.

Carter's, Inc. (CRI) How It Makes Money

Carter's, Inc. primarily generates revenue through the design, sourcing, and marketing of branded childrenswear and related products, sold through wholesale channels, retail stores, and online.

Carter's, Inc. Revenue Breakdown

Here's a look at how Carter's, Inc. generates its revenue:

Carter's, Inc. Business Economics

Carter's business economics are influenced by several key factors:

• Pricing Strategy: Carter's employs a multi-tiered pricing strategy, offering products at various price points to cater to a broad customer base. This includes premium-priced items in department stores, mid-range options in their retail stores, and value-priced goods in discount chains.
• Cost Management: Efficient supply chain management and strategic sourcing are crucial for maintaining competitive pricing and healthy profit margins. Carter's focuses on optimizing its sourcing network to reduce production costs.
• Brand Recognition: Strong brand recognition and customer loyalty enable Carter's to maintain stable demand and pricing power. The company invests in marketing and advertising to reinforce its brand image and attract new customers.
• Economic Factors: Consumer spending on childrenswear is influenced by overall economic conditions, such as GDP growth, employment rates, and disposable income. Economic downturns can lead to reduced consumer spending, impacting Carter's revenue and profitability.

Carter's, Inc. Financial Performance

Key aspects of Carter's financial performance include:

• Net Sales: In the fiscal year 2024, Carter's reported consolidated net sales of $3.01 billion.
• Gross Profit Margin: For 2024, the gross profit margin was reported at 43.9%.
• Operating Income: Carter's reported operating income of $247.8 million in 2024, representing 8.2% of net sales.
• Earnings Per Share (EPS): The reported EPS for 2024 was $5.55 on a diluted basis.
• Cash Flow: The company generated $238.5 million in cash flow from operations in 2024.

To gain more insight into investor behavior and ownership dynamics, consider exploring this resource: Exploring Carter's, Inc. (CRI) Investor Profile: Who’s Buying and Why?

Carter's, Inc. (CRI) Market Position & Future Outlook

The children's apparel market is competitive, and Carter's, Inc. (CRI) holds a significant position. The company's future outlook involves strategic initiatives to maintain and grow its market share amidst evolving consumer preferences and economic conditions.

Competitive Landscape

Opportunities & Challenges

Industry Position

• Dominant player in the young children's apparel market in North America.
• Well-established brand portfolio, including Carter's, OshKosh B'gosh, and Skip Hop.
• Focus on product innovation and quality to maintain a competitive edge.

Read more about the investors: Exploring Carter's, Inc. (CRI) Investor Profile: Who’s Buying and Why?