Like Free People, the Urban brand is planning to grow by expanding product assortments, expanding the brand reach and by improved marketing.
Repositioning a brand is never easy and rarely without pain. I believe the Urban brand is making the necessary changes that will allow it to more fully engage its traditional customer and return to solid profitability.
Quite frankly, the Urban brand organization became too siloed, with too little communication across functional areas. The great creativity that has been the hallmark of our success became stifled.
I invite you all to visit our new Harold Square or Space 98 stores in New York. I think you'll agree with me that these stores have a distinct Urban Outfitters personality, with fresh, exciting product and an experience that resonates with the 18 to 28 year old urban-dwelling customer.