To enable the consolidation of these operations and to support its growth plans, the Company is evaluating its long-term space needs in the Atlanta area. The Company expects to complete this consolidation by the end of 2013.
“We are very fortunate to be growing and expanding our business in our hometown of Atlanta,” said Michael D. Casey, Chairman and Chief Executive Officer. “We believe that bringing our employees together in one location will improve the interaction and collaboration of our talented workforce and strengthen our ability to provide consumers with the best value and experience in young children’s apparel.”
Approximately 200 new jobs are expected to be created in Atlanta principally in the areas of retail merchandising and store operations, finance, and information technology. The Company currently employs approximately 1,200 people in the Atlanta metropolitan area.
The Company anticipates pre-tax consolidation-related expenses in the range of $35 million to $40 million over the next 12 to 18 months. The expected costs relate to recruiting, relocation, and severance costs and facility-related charges. Additional information is available in the Company’s Form 8-K filed with the Securities and Exchange Commission today.
Carter's, Inc. is the largest branded marketer in the United States of apparel and related products exclusively for babies and young children. The Company owns the Carter's and OshKosh B'gosh brands, two of the most recognized brands in the marketplace. These brands are sold in leading department stores, national chains, and specialty retailers domestically and internationally.
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