Carter's Announces New $400M Share Buyback

The Board of Directors of Carter's, Inc.

today announced that as part of the Board's ongoing review of opportunities to improve the Company's capital structure and return capital to shareholders, it has approved a new $400 million share repurchase authorization, bringing the Company's total repurchase authorization to $700 million. As of August 22, 2013, the total remaining capacity under the authorizations was approximately $670 million. The Board also today declared a quarterly dividend of $0.16 per share, payable on September 13, 2013, to shareholders of record at the close of business on September 3, 2013. The share repurchase authorization announced today permits the Company to repurchase shares