4 Gap Clothing Stores In Florida Close

MIAMI, FL — Four Gap clothing stores in Florida have closed, company officials said Monday. The store closures were part of a plan announced in February 2019 to close 230 stores across the country.

The four stores that closed were located at: 673 Collins Ave. in Miami Beach; Bayside Marketplace: 401 Biscayne Blvd., Miami; CocoWalk: 3015 Grand Ave., Suite 101, Coconut Grove; and 400 S. Park Ave. in Winter Park.

Gap management said the stores that closed were either underperforming or no longer fit the vision for the future of the company.

"We are confident these closures will strengthen the health of the specialty fleet moving forward and will serve as a more appropriate foundation for brand revitalization," the company's management said in a statement on its website.

The brick-and-mortar retail landscape continued its decline in Florida in 2019 and 2020, with several national chains announcing dozens of store closings by 2020.

Last year, the parent company, Gap Inc. announced plans to shutter about 230 stores over the next two years. Last year, the San Francisco-based retail company had a total of 725 specialty stores, not including those in China. Sales had dropped 5 percent, according to Gap's 2018 earnings report.

The 50-year-old retailer has been mired in a financial swamp over the past few years. Gap is estimating that it will lose about $625 million from the store closure, but then save about $90 million as the process takes shape.