Posted: 04/10/2025 03:53 am
Carter's, Inc. (NYSE: CRI), a leading name in apparel for babies and young children in North America, has seen a volatile year with significant developments in executive compensation against a backdrop of market challenges. The company's shares have experienced a notable decline, plummeting 31.4% year-to-date, impacted by inflation and other macroeconomic headwinds1. Meanwhile, Carter's announced in late March 2025 the appointment of Douglas C. Palladini as the new CEO, aiming to steer the company through this turbulent period2.
Compensation for key executives at Carter's provides insights into the company's strategic priorities and market positioning. Richard F. Westenberger, previously the Senior Executive Vice President and Chief Financial Officer, served as the Interim Chief Executive Officer for a period. In 2024, Westenberger's total compensation was $2,582,918, which included a base salary of $763,462 and stock awards valued at $1,609,9603. When compared to 2023, his compensation was slightly lower, reflecting a decrease in total compensation from $2,896,769, driven partly by reduced incentive plan compensation4.
In contrast, looking back to 2020, Kendra B. Krugman, then Executive Vice President for North America Retail, received a total compensation of $1,201,652, primarily driven by stock awards of $575,586 and a bonus of $103,2005. The executive compensation has been a delicate balancing act for Carter's as they strive to retain talent amidst an industry characterized by rapid changes and stiff competition.
Moreover, fluctuations in the stock market have coincided with significant corporate moves. The recent appointment of Doug Palladini as the CEO is intended to invigorate Carter's strategy and expand its direct-to-consumer approaches6. This leadership change happens as Carter's introduces new seasonal collections, targeting both style and affordability, which may enhance brand engagement despite market slumps7.
As Carter's prepares to report its fourth-quarter and fiscal year 2024 results, investors are hopeful for signs of stability and growth8. Currently, Carter's stock is priced at $38.98, with a market cap of approximately $1.4 billion9. The company's forthcoming quarterly earnings announcement on April 24, 2025, is expected to provide a clearer picture of its financial health and strategic direction10.
1. Zacks, "Carter's Shares Plunge 31.4% YTD: What's Next for Investors?"
2. Investopedia, "Kids Retailer Carter's Announces New CEO Amid Stock Slump"
3. SEC Filing, 2024 Compensation Data for Richard F. Westenberger
4. SEC Filing, 2023 Compensation Data for Richard F. Westenberger
5. SEC Filing, 2020 Compensation Data for Kendra B. Krugman
6. Business Wire, "Carter's, Inc. Appoints Douglas C. Palladini as Chief Executive Officer"
7. Business Wire, "Carter's Delivers Big Style for Tiny Trendsetters with Debut of New Spring-Summer 2025 Collections"
8. Business Wire, "Carter's, Inc. to Report Fourth Quarter and Fiscal Year 2024 Results on Tuesday, February 25, 2025"
9. Market Snapshot Data for Carter's, Inc.
10. Market Snapshot, Earnings Announcement Information for Carter's, Inc., April 2025
