Carter's reported its net profit for Q2 decreased on Friday. Compared with the same period last year, revenues also decreased by 29.8 percent.

For Q2, the company's net profit was 8 million dollars, which decreased from 44 million dollars last year. Furthermore, revenues slipped to 515 million dollars. Compared to 6 percent a year ago, the profit margin of the company dropped to 2 percent.

Carter's, Inc. (NYSE: CRI) also known as the William Carter Company, is a major American manufacturer and retailer of mid-priced children's apparel and products. It was founded in 1865 by William Carter. In 2005 Carters acquired OshKosh B'Gosh. Carter’s Inc. brands also include: Child of Mine, Just One You, and Genuine Kids. Currently the company operates over 600 Carter’s and OshKosh B’gosh retail stores and outlets in the United States.

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