Carter's shares rise as retailer adopts poison pill plan

Shares of apparel retailer Carter's Inc CRI.N up 3.1% at $30.42

CRI adopts a limited‑duration shareholder rights plan, a so‑called poison pill, following RWWM’s disclosure of a 16.86% stake on September 4.

Co says it received no prior notice of RWWM’s stock accumulation and has not heard back from the investor despite reaching out

Company will issue one right per share on October 3; the rights will become exercisable if any holder acquires 15% or more of the common stock.

Once triggered, the rights allow holders to buy shares at a 50% discount, or the company may exchange each right for one common share

Rights agreement set to expire on September 21, 2026

As of last close, CRI shares down 45.5% YTD