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C&W's Patrick Berman On Last Week's Poll

'They're the same as they were ten years ago.'

By Carl Cronan | Updated on September 02, 2008

GAP FALLING INTO ITSELF?

Prior to the Labor Day weekend, respondents to the GlobeSt.com Quick Poll appeared less than enthusiastic about the future of Gap Inc., the San Francisco-based casual-chic retailer that has been around nearly four decades. Poll results show that 59% believe Gap will close more stores than already announced, while 21% feel it will find a real estate solution and 20% think it will fall through the gap itself. Patrick Berman, senior director of retail brokerage with Cushman & Wakefield’s Tampa office, has been minding the Gap over the last several years and has these observations about the clothing chain’s future:

“Gap is going through a similar situation as Winn-Dixie from a supermarket standpoint. If you wanted discount prices you’d go to Wal-Mart, but if you wanted good service and quality produce you’d go to Whole Foods or Publix. There was no reason to go to Winn-Dixie after a while.

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