Last week, Urban Outfitters, Inc. reported plans to roll out 25 to 50 new Anthropologie "mini-malls" over the next five years. The new stores will be nearly three times the size of Anthropologie's current stores, "creating an atmosphere where shoppers can hang out," according to a Bloomberg article. The goal of the strategy is to double sales from the brand by 2020.
When Urban Outfitters CEO Richard Hayne nominated his wife Margaret to its all-male board, it set off a firestorm of controversy. The state treasurer of Connecticut may have put it best, calling it "cynical," an "insult" and "bogus," according to the Philadelphia Inquirer. A company that caters much of its products to women should probably have more women making top-level decisions.
New Mexico Business Weekly Related: Retailing & Restaurants Ryan Sharrow | Staff One of Urban Outfitters' T-shirts, the Philadelphia Inquirer notes, "bears a symbol that critics said resembles a Star of David patch that Jews in Nazi Europe were forced to wear during the Holocaust." The company is drawing heat over the apparel. In recent months, clothing sold by Urban Outfitters has offended the Navajo Nation and Irish-Americans. Now one of the company's T-shirts, the Philadelphia Inquirer notes, "bears a symbol that critics said resembles a Star of David patch that Jews in Nazi Europe were forced to wear
Philadelphia -- Urban Outfitters Inc. reported Monday that profit for the fourth quarter fell to $39.3 million, from $75.2 million a year earlier. Sales rose 9% to $730.6 million, missing Wall Street’s expected $740 million in revenue. The operator of Anthropologie, Free People and Urban Outfitters stores said heavy discounting over the holidays took a big toll on margins; in fact, margins have declined for at least five quarters as the retailer has made major markdowns to clear out slow-moving merchandise. “I am pleased that we managed our inventories to appropriate levels at year-end even though our margins during