PSA: Gap stores are closing, there are sales to be had
Gap is closing 70 stores across the country today, including the stores at Tyrone Square Mall in St. Petersburg and Citrus Park Town Center in Tampa (and a store in Melbourne, the only other Florida closure). Ace Times biz reporter Justine Griffin has more details:
"As part of a comprehensive strategy to position Gap brand for improved business performance and build for the future, Gap Inc. recently announced it would reduce its North America specialty store fleet by about 175 stores over the course of the next few years," the retailer said in a list of store closures.
Gap Inc., the parent company of Gap, Banana Republic and Old Navy, posted poor sales results for the fourth quarter following the holiday shopping season. Overall sales were down 4 percent, and sales at Gap stores declined 2 percent for the quarter, which is traditionally the busiest time of the year for brick-and-mortar retailers.
Don't fret, Gap fans. You can still find the retailer at International Plaza and the Mall at University Town Center in Sarasota (which, if you have not been, is a wondrous gleaming behemoth of a shopping center and you need to make it your February pilgrimage). Outlet stores also won't be affected by the closures.
But the line that stuck out most in Justine's story was this nugget of information: The closing stores in Tampa Bay were offering sales of up to 90 percent off merchandise Monday.
Both stores are open until 9 p.m. tonight, so go score some basically free merch while you can.