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Carter’s posts drop in Q1 sales, profit

US kidswear retailer Carter’s has reported a 10.9 percent drop in Q1 sales as its profits narrowed. The company made net sales of 695.9 million dollars in the first quarter of the year, down from 781.3 million dollars a year earlier. It said the drop was linked to macroeconomic factors, including inflation, which drove consumer demand down. The...

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