News Summary
The Carter’s store in Cranston, Rhode Island, is closing this week as part of a nationwide trend of retail closures. Approximately 3,200 stores are shutting down this year, marking a 24% increase from last year. Factors contributing to this decline include the growth of online shopping, inflation concerns, and increased bankruptcies among retailers. The Carter’s closure reflects the ongoing struggles faced by traditional retail businesses as they adapt to changing consumer preferences in a digital marketplace.
Cranston, Rhode Island – The Carter’s store located at Garden City in Cranston is set to close its doors this week, with a confirmed closure date of this Friday. This retail outlet is known for specializing in children’s clothing and accessories, but like many stores across the country, it falls victim to the ongoing decline in brick-and-mortar retail.
The Cranston location will join the ranks of approximately 3,200 store closures across the United States this year, marking a notable 24 percent increase compared to the previous year. This surge in store closures is part of a broader trend affecting the retail industry, driven by the shift towards online shopping, inflation concerns, and increasing rates of bankruptcy.
Currently, the only other Carter’s store operating in Rhode Island is located in the Providence Place mall. However, several Carter’s stores remain active in southeastern Massachusetts, including locations in Seekonk, North Attleborough, Dartmouth, and Wrentham. The decrease in physical retail spaces is indicative of a changing landscape where online shopping continues to grow in popularity.
Among the broader spectrum of impacted retailers, several chains have also announced store closures this year. Family Dollar leads the way with the closure of 620 locations; followed by Rue21 with 543 stores, and 99 Cents Only Stores with 371 closures. Other notable chains include CVS Health (315), 7-Eleven (272), and Rite Aid (165).
The driver of these closures can be attributed to consumers increasingly turning to e-commerce solutions, especially in light of various economic challenges. Even though consumer spending reportedly grew by 0.2 percent in April, overall consumer confidence has seen a decline. Data indicates a drop in consumer confidence from 77.2 in April to 69.1 in May, highlighting ongoing uncertainties regarding inflation that may discourage future spending.
Amidst these challenges, some retailers, particularly those that failed to adapt to pandemic-induced changes in consumer behavior, are struggling to maintain viability. In stark contrast, larger retailers like Walmart and Target are noted for successfully adjusting their strategies and positioning themselves to thrive even amid market instabilities.
As we look at retail chains facing significant difficulties, other names include Abercrombie & Fitch, H&M, and Best Buy, which signals a widespread transformation taking place across the retail sector. For Carter’s, the closure of its Cranston store adds to the list of retail fadeouts as consumers continue to navigate their options in an evolving shopping environment.
In Rhode Island, Family Dollar is strategically closing underperforming locations, leading to a total of 33 stores being operational as of this year. The ongoing trend in the retail industry underscores a fundamental shift that is likely to persist, reshaping not only local markets but also the national retail environment as e-commerce is projected to rise notably, potentially reaching 26 percent of total sales from the current figure of 21 percent.
The imminent closure of the Carter’s store in Cranston is another reminder of the ongoing struggles faced by traditional retail outlets as they adapt to changing consumer preferences in an increasingly digital marketplace. The situation highlights the importance of agility in commerce today, where adaptation to the evolving landscape may determine the success or failure of retail businesses across the country.
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Additional Resources
- Turn to 10: Carter’s in Garden City to Close
- Wikipedia: Retail
- Turn to 10: Carter’s Gallery
- Google Search: Brick-and-Mortar Retail
- Patch: National Day of Mourning for Jimmy Carter
- Google Scholar: Store Closures
- Patch: Store Closures Surge in RI
- Encyclopedia Britannica: E-Commerce
Author: STAFF HERE PROVIDENCE WRITER
PROVIDENCE STAFF WRITER The PROVIDENCE STAFF WRITER represents the experienced team at HEREProvidence.com, your go-to source for actionable local news and information in Providence, Providence County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as WaterFire, Rhode Island International Film Festival, and Rhode Island Comic Con. Our coverage extends to key organizations like the Greater Providence Chamber of Commerce and Providence Warwick Convention & Visitors Bureau, plus leading businesses in finance and manufacturing that power the local economy such as Citizens Financial Group and Textron. As part of the broader HERE network, we provide comprehensive, credible insights into Rhode Island's dynamic landscape.
