June 2, 2016
Amid the current climate in which retailers Pacific Sunwear, Sports Authority, Quiksilver and Aéropostale have filed for bankruptcy, URBN, parent company of Urban Outfitters, bucks the trend. Specifically, the Philadelphia-headquartered retailer’s first-quarter numbers increased by 3% to $763 million.
The reason? The company has successfully tied brick-and-mortar to e-commerce. “Our brands were early direct-to-consumer adopters. And while we continue to invest more in electronic shopping capabilities, we also strongly believe that bricks is synergistic with clicks . . .” explained Chairman of the Board of Directors and CEO Richard Hayne.
URBN provides enough assortment in its Urban Outfitters, Anthropologie and Free People stores to attract consumers, then drives them online to shop broader categories. Additionally, social media, better imagery and less cluttered stores, have helped brand appeal, Hayne said.