Urban Outfitters seems to be in a spot of trouble these days. After a reportedly disappointing fourth quarter, the retailer's stock plunged nearly 17 percent yesterday, marking the second less than impressive sales quarter in a row. So what gives? Reps for the Philly-based company say the sagging sales are due to blah-worthy fashions at both the namesake Urban Outfitters stores and sister store Anthropologie.
Nevertheless, hopes within the company still seem high. "I could see it turning as soon as three months from now," Chief Executive Glen Senk told The New York Post, noting the trends in both stores could probably be perked up. "Urban Outfitters and Anthropologie alone probably have 150 to 175 people who touch the product in one way or another," Senk said. "As they get information, they use that information to make better decisions going forward, but it is a process that you can't rush."
People like analyst Jen Black say the sooner the retailers get back to emerging trends, the better. "It used to be you'd walk into Urban Outfitters and it was all about the dress or it was all about military," Black said. "Now I don't know what it stands for. I just see a lot of stuff that's unflattering." One thing that's for sure though for all of us avid Urban shoppers over the years, with new trends coming in there's bound to be TONS of their signature dirt cheap sales! So let's get shopping and give retailers a much needed boost!
Article Source: The New York Post
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