Latest news with #HaioBarbeito
Fashion Network
11-05-2025
- Business
- Fashion Network
Old Navy to open new store in biggest NYC retail lease of 2025
Old Navy, Gap Inc.'s biggest brand, struck a deal for a new 55,000-square-foot (5,110-square-meter) flagship store in Herald Square, the top retail lease in New York City so far this year, according to research from real estate brokerage Newmark Group Inc., which advised on the brand's deal. Located in a key Midtown shopping district, the new location will be steps away from the Macy's Inc. Herald Square department store that serves as the backdrop to the Macy's Thanksgiving Day Parade. Old Navy's new store will be two floors and is set to open next year. It will close its 150 West 34th Street location, and employees who worked at the store are able to apply to the new location, according to a spokesperson. 'This new location will enable us to deliver a fresh, immersive, digitally led experience,' said Haio Barbeito, Old Navy's president and chief executive officer, in a statement. The brand is looking to modernize its customer experience, he added. While the pandemic weighed on Manhattan's retail tenants, the city's shopping corridors have started to bounce back. Luxury brands went on a buying spree for properties along Fifth Avenue, and major brands such as Ikea have unveiled plans for new retail spots. Apparel companies were the second-most active sector for leasing Manhattan retail space during the first three months of the year, snagging more than 148,000 square feet, according to a CBRE Group Inc. report. Miu Miu renewed its spot on 57th Street, and Mango said it'd open a store at 1976 Broadway, CBRE said. Gap has been updating a number of its stores under top executive Richard Dickson, who became CEO in August 2023. The namesake Gap brand recently reopened a store in the nearby Flatiron district of Manhattan and its Banana Republic brand renovated its flagship in Soho. Gap reported strong quarterly sales in its most recent earnings report in March. Its other brands include Athleta, its athletic label for women, and Banana Republic. Gap's shares are down 2.6% so far this year as of the close of trading on Thursday.
Fashion Network
10-05-2025
- Business
- Fashion Network
Old Navy to open new store in biggest NYC retail lease of 2025
Old Navy, Gap Inc.'s biggest brand, struck a deal for a new 55,000-square-foot (5,110-square-meter) flagship store in Herald Square, the top retail lease in New York City so far this year, according to research from real estate brokerage Newmark Group Inc., which advised on the brand's deal. Located in a key Midtown shopping district, the new location will be steps away from the Macy's Inc. Herald Square department store that serves as the backdrop to the Macy's Thanksgiving Day Parade. Old Navy's new store will be two floors and is set to open next year. It will close its 150 West 34th Street location, and employees who worked at the store are able to apply to the new location, according to a spokesperson. 'This new location will enable us to deliver a fresh, immersive, digitally led experience,' said Haio Barbeito, Old Navy's president and chief executive officer, in a statement. The brand is looking to modernize its customer experience, he added. While the pandemic weighed on Manhattan's retail tenants, the city's shopping corridors have started to bounce back. Luxury brands went on a buying spree for properties along Fifth Avenue, and major brands such as Ikea have unveiled plans for new retail spots. Apparel companies were the second-most active sector for leasing Manhattan retail space during the first three months of the year, snagging more than 148,000 square feet, according to a CBRE Group Inc. report. Miu Miu renewed its spot on 57th Street, and Mango said it'd open a store at 1976 Broadway, CBRE said. Gap has been updating a number of its stores under top executive Richard Dickson, who became CEO in August 2023. The namesake Gap brand recently reopened a store in the nearby Flatiron district of Manhattan and its Banana Republic brand renovated its flagship in Soho. Gap reported strong quarterly sales in its most recent earnings report in March. Its other brands include Athleta, its athletic label for women, and Banana Republic. Gap's shares are down 2.6% so far this year as of the close of trading on Thursday.
Fashion Network
09-05-2025
- Business
- Fashion Network
Old Navy to open new store in biggest NYC retail lease of 2025
Old Navy, Gap Inc.'s biggest brand, struck a deal for a new 55,000-square-foot (5,110-square-meter) flagship store in Herald Square, the top retail lease in New York City so far this year, according to research from real estate brokerage Newmark Group Inc., which advised on the brand's deal. Located in a key Midtown shopping district, the new location will be steps away from the Macy's Inc. Herald Square department store that serves as the backdrop to the Macy's Thanksgiving Day Parade. Old Navy's new store will be two floors and is set to open next year. It will close its 150 West 34th Street location, and employees who worked at the store are able to apply to the new location, according to a spokesperson. 'This new location will enable us to deliver a fresh, immersive, digitally led experience,' said Haio Barbeito, Old Navy's president and chief executive officer, in a statement. The brand is looking to modernize its customer experience, he added. While the pandemic weighed on Manhattan's retail tenants, the city's shopping corridors have started to bounce back. Luxury brands went on a buying spree for properties along Fifth Avenue, and major brands such as Ikea have unveiled plans for new retail spots. Apparel companies were the second-most active sector for leasing Manhattan retail space during the first three months of the year, snagging more than 148,000 square feet, according to a CBRE Group Inc. report. Miu Miu renewed its spot on 57th Street, and Mango said it'd open a store at 1976 Broadway, CBRE said. Gap has been updating a number of its stores under top executive Richard Dickson, who became CEO in August 2023. The namesake Gap brand recently reopened a store in the nearby Flatiron district of Manhattan and its Banana Republic brand renovated its flagship in Soho. Gap reported strong quarterly sales in its most recent earnings report in March. Its other brands include Athleta, its athletic label for women, and Banana Republic. Gap's shares are down 2.6% so far this year as of the close of trading on Thursday.
Fashion Network
09-05-2025
- Business
- Fashion Network
Old Navy to open new store in biggest NYC retail lease of 2025
Old Navy, Gap Inc.'s biggest brand, struck a deal for a new 55,000-square-foot (5,110-square-meter) flagship store in Herald Square, the top retail lease in New York City so far this year, according to research from real estate brokerage Newmark Group Inc., which advised on the brand's deal. Located in a key Midtown shopping district, the new location will be steps away from the Macy's Inc. Herald Square department store that serves as the backdrop to the Macy's Thanksgiving Day Parade. Old Navy's new store will be two floors and is set to open next year. It will close its 150 West 34th Street location, and employees who worked at the store are able to apply to the new location, according to a spokesperson. 'This new location will enable us to deliver a fresh, immersive, digitally led experience,' said Haio Barbeito, Old Navy's president and chief executive officer, in a statement. The brand is looking to modernize its customer experience, he added. While the pandemic weighed on Manhattan's retail tenants, the city's shopping corridors have started to bounce back. Luxury brands went on a buying spree for properties along Fifth Avenue, and major brands such as Ikea have unveiled plans for new retail spots. Apparel companies were the second-most active sector for leasing Manhattan retail space during the first three months of the year, snagging more than 148,000 square feet, according to a CBRE Group Inc. report. Miu Miu renewed its spot on 57th Street, and Mango said it'd open a store at 1976 Broadway, CBRE said. Gap has been updating a number of its stores under top executive Richard Dickson, who became CEO in August 2023. The namesake Gap brand recently reopened a store in the nearby Flatiron district of Manhattan and its Banana Republic brand renovated its flagship in Soho. Gap reported strong quarterly sales in its most recent earnings report in March. Its other brands include Athleta, its athletic label for women, and Banana Republic. Gap's shares are down 2.6% so far this year as of the close of trading on Thursday.
Yahoo
26-03-2025
- Business
- Yahoo
Old Navy Partners with RADAR to Elevate the Customer Experience with Plans for Phased Roll Out of its AI-Powered RFID Technology
New Technology Enables Store Associates to Track and Locate Inventory with a High Level of Accuracy to Drive a Seamless and Intelligent Shopping Experience SAN FRANCISCO, March 26, 2025 /PRNewswire/ -- RADAR, the technology platform that combines RFID, AI and computer vision technology to track and locate in-store inventory with a high level of accuracy in real-time, today announced a partnership with Old Navy, the largest brand in Gap Inc.'s (NYSE: GAP) house of iconic American brands. Old Navy's multi-year plans include a phased roll out of RADAR's AI-powered RFID technology across its nationwide store fleet to help empower the brand's store associates with real-time inventory information to locate items anywhere in the store and deliver an improved customer experience. The move is part of Old Navy parent company, Gap Inc.'s ongoing commitment to continuous improvement as it looks to unlock value over time through new capabilities that strengthen its operating rigor and scaled platform. "We're excited to partner with RADAR, which offers a sophisticated platform and analytics that will give our teams greater real-time inventory visibility to provide an even better in-store shopping experience," said Haio Barbeito, Old Navy President & CEO. "Building on the rigor and discipline that is now core to how we operate, this new technology can place power in the hands of our frontline teams to better serve our customers – an important factor in our long-term strategy to make Old Navy the most loved apparel brand in North America, standing for on-trend style, consistent quality, and frictionless experience, all at an accessible price." "In 2025, we are focused on innovating as we pave the way for momentum in the years ahead. This partnership brings proven capabilities that can generate value over time as we take a strategic, multi-year approach to merging technology and retail to deliver a human-centered, digitally led shopping experience," added Sven Gerjets, Gap Inc. Chief Technology Officer. "With Radar's always-on RFID technology, we will look to transform our stores into truly connected spaces, starting with Old Navy. Continuous product tracking can help us optimize inventory replenishment, improve customer and team member experiences, and give us more real-time insights that can support product design and innovation." As retailers and brands look to operate more efficiently, being able to track and locate every item in every store is critical. RADAR's RFID & AI platform enables leading brands like Old Navy to precisely manage inventory and give store associates the real-time information they need to instantly find products—no matter where they are on the sales floor or in the backroom. The solution empowers employees to not only serve their in-store customers better but also replenish products on the sales floor and fulfill omnichannel orders being picked up in-store more quickly and easily. "Old Navy is one of the most iconic American brands and we could not be prouder to officially launch this partnership following pilots across select stores to ensure that Old Navy brand fans are even better served," said Spencer Hewett, Founder and CEO of RADAR. "We will provide store teams with ecommerce-level inventory and product insights, enabling them to manage physical stores with the same precision as their online operations. This will help them optimize operations and ensure customers find what they want, when and where they need it." RADAR's AI & data-science analytics will also help inform inventory decisions, so companies can stock the right products in the right locations at the right times while minimizing shrinkage, stockouts and overstocks. Hewett continues, "RADAR's platform enables granular measurement of product movement down to the shelf which enables retailers to optimize their floor sets and item locations for more effective sell-through. This is something that has been happening for decades in eCommerce and RADAR is excited to finally bring the same capabilities to physical stores, with Old Navy at the forefront." About RADAR RADAR's technology currently powers inventory optimization in nearly 600 stores nationwide and in Canada across three billion-dollar brands with a pipeline of over 30 other top brands. To date, RADAR has raised over $100mm+ from key retailers, funds, and strategic investors. RADAR has offices in the Bay Area, New York and San Diego. RADAR offers a proprietary hardware and software AI-platform that uses RFID and computer vision to turn physical stores into websites. RADAR for the first time enables retailers to measure everything that happens inside their stores including what their inventory level is down to the second. RADAR demystifies what is happening inside retail stores all while eliminating the consumer pain point of the item you want being out of stock, or hearing "I think we might have it, let me go check in the back". Headquartered in New York, RADAR is backed by some of the biggest global retailers, including American Eagle, Gap Inc., Lojas Renner and several Fortune 500 companies; leading funds such as Align Ventures, Founders Fund, Y Combinator, Sound Ventures, Beanstalk, Gideon VC, and the Agnelli family; and the family offices behind Michael Kors, Tommy Hilfiger, American Eagle, Gap Inc. and other leading brands. For more information, visit About Gap Inc. Gap Inc., a house of iconic brands, is the largest specialty apparel company in America. Its Old Navy, Gap, Banana Republic, and Athleta brands offer clothing, accessories, and lifestyle products for men, women and children. Since 1969, Gap Inc. has created products and experiences that shape culture, while doing right by employees, communities and the planet. Gap Inc. products are available worldwide through company-operated stores, franchise stores, and e-commerce sites. Fiscal year 2024 net sales were $15.1 billion. For more information, please visit About Old NavyOld Navy is a global apparel and accessories brand that makes current American essentials accessible to every family. Originated in 1994, the brand invites customers to come play with style through on-trend, playfully optimistic, affordable and high-quality products. A division of San Francisco-based Gap Inc. (NYSE: GAP), Old Navy brings a fun, energizing shopping environment to its customers in more than 1,200 stores around the world. For more information, please visit MEDIA CONTACTS For RADAR:Michael McMullan / Felicia KaneBerns Communications Groupmmcmullan@ / fkane@ For Gap:press@ View original content to download multimedia: SOURCE Gap Inc. Sign in to access your portfolio
