We recently compiled a list of the . In this article, we are going to take a look at where Carter's, Inc. (NYSE:CRI) stands against the other clothing stocks.
The internet has changed the way people shop for clothes. Social media platforms and influencers have popularized the "haul culture," where people order a big box of low-priced clothes online and sift through them. Also colloquially known as the "Shein effect," people are turning towards fast fashion, ordering clothing that offers an element of surprise upon receiving.
Although Shein's primary suppliers are in China, its customers are majorly US-based. Its global sales reached around $30 billion last year, almost touching the $39 billion in global sales made by Inditex, the old-school fast fashion leader and owner of Zara. Fashion and apparel rank among some of the most significant industries in the world, creating key value for global economy.
According to McKinsey, it would rank as the seventh largest economy in the world if placed alongside the GDPs of individual countries. The industry, however, faced several challenges in 2023, with the United States and Europe experiencing slow regional growth throughout the year. While China started the year with a strong performance, it gradually waned, slowing down in the second half.
Even the luxury segment experienced uneven performance and slower sales. The fashion industry in 2024 can thus be described with one word: uncertainty. Weaker economic growth, dwindling consumer c.