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Carter's Reports Rise In 1Q Profit, Job Cuts

Stock quotes in this article: CRI  

ATLANTA (AP) — Children's-clothes maker Carter's Inc. reported Tuesday its first-quarter profit jumped 42 percent, and it said it is laying off about 10 percent of its corporate work force.

For the quarter ended April 4, net income rose to $16.4 million, or 28 cents per share, from $11.6 million, or 19 cents per share, a year earlier.

Analysts polled by Thomson Reuters expected profit of 16 cents per share. ...

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