The Gap, Other Stores To Leave Palmer Square

Candace Braun

As Gap readies to close its store at the end of June and two other stores are also expected to close, Palmer Square may be set to begin a shift in focus.

The Gap, which has had a home in Palmer Square for 12 years, recently announced that it will be leaving its location at 11 Hulfish Street on June 30. In addition, J.E. Caldwell & Co. and Mother and Baby Co. will be leaving Palmer Square in late June.

"They're moving on, and so are we," David Newton, president of Palmer Square Management, LLC, said of The Gap. "We are sorry to see them go."

Nevertheless, more traffic anticipated in the downtown area with the new library and garage openings bodes well for Princeton businesses, and they should expect to see a rush of new clientele, he said.

"Palmer Square itself is starting to go in a slightly different direction," Mr. Newton said.

He alluded to wanting more restaurants in Palmer Square. Currently there are three.

A store to replace Gap has already been found to occupy the prime location on Hulfish Street. Zoe, a high fashion women's clothing boutique that currently occupies two stores in Palmer Square, will be moving into a large portion of that space.

Despite the loss of stores, Mr. Newton said he feels Palmer Square business, "is about to soar."

Other area Gap stores have also been closing, including the Burlington Center Mall location, which closed two weeks ago. Two other Gap stores in central New Jersey will be closing within the next several weeks, said an anonymous Gap employee.

Gap Inc., which has 4,100 store locations worldwide, has closed 225 of its stores in the United States over the last two years. Approximately 85 more Gap clothing stores will close this year.

However Gap will open 125 new stores, 70 of which will be Old Navy stores. One of the main reasons for this is because Old Navy brings in 41 percent of the company's revenue.

Banana Republic, which is also located in Palmer Square and owned by Gap Inc., will most likely stay in Princeton, said Mr. Newton.

"Banana Republic is on a long-term lease, and I believe they will be staying," he said.

Some residents were troubled to hear of the loss of The Gap retail store in town.

"It's a really nice store ... They have really good bargains," said Ariel Malberg, a student at Princeton High School. Both she and her mother, Alta Malberg, were on their way to shop at The Gap Monday afternoon.

Because The Gap is a chain store, employees will be transferred to other local store locations, most likely at Market Fair on Route 1, or at Quakerbridge Mall, said a Gap manager. All clothing that has not been sold by the store's closing date will be sent to other store locations.