1. Urban Outfitters’ Dreadful Earnings Report Sends Stock Tumbling 16 Percent
The News: Well I guess the experts were wrong. In a shocking earnings report, Urban Outfitters recorded sales of $739 million, which fell well short of analysts expectations of $757.58 million. Online retail expenses and deep discounting were major culprits. Anthropologie — normally a top performing brand — saw sales climb a disappointing 1 percent — the slowest growth in 11 quarters. It reported earnings per share of $0.26, below analysts’ estimates of $0.30. CEO Richard A. Hayne called it a “disappointing quarter” and said the company is “working diligently to regain its fashion footing.”
What it Means: Financial analysts have been raving for months about Urban Outfitters, calling it a comeback story after its flagship brand showed serious growth in the fourth quarter and the company hit $1 billion in revenue. Since October, shares had made a serious recovery and hit multiyear highs. Read more »
Commerce Square | Via: TransitScreen
Commerce Square debuted a new outdoor digital screen that will actually be helpful to the throngs of office workers, commuters and visitors in Center City. Brandywine Realty Trust announced a partnership today with TransitScreen to introduce a digital hub that provides real-time updates on various forms of transportation, including SEPTA and New Jersey Transit schedules, Uber distance times, nearby car share locations and even Indego Bike Share docking info.
Essentially, the one-stop-shop allows you to choose the most convenient form of transportation for whatever trip you’re about to take. CityLab explains that the “goal is to focus on getting city residents to consider all their travel options before they ever leave” and proclaimed that the tech belongs “in every lobby.”
Here’s what that info might look like on the giant LED screen or on a TV in the lobby of the building: Read more »
As the Philadelphia Parking Authority carries on its war against massively popular smart phone-based car service Uber — a service that continues to operate in Philadelphia despite its illegality — the company has also been clashing with state regulators, who this week forced Uber to turn over proprietary data and also proposed a fine of $19 million. Read more »
Got your Indego bike share key but no helmet? No worries: Today, starting at 11 a.m., to celebrate the launch of Philly’s new bike share program, Uber (yes, that Uber) is delivering brand spankin’ new Nutcase Metroride commuter helmets to Philly bikers on demand for just $10.
Here’s the deal: To get the helmet (which would usually run you $79), all you have to do is download the Uber app, if you don’t already have it, and request HELMET where you would usually request a type of car. A driver will arrive in a few minutes with your helmet (or helmets — the max is two per request), and you’ll be charged $10 for each one. That $10 will serve as a donation to the Bicycle Coalition of Greater Philadelphia, which Uber will match.. How freakin’ awesome is that? Read more »
Getting 15 minutes of uninterrupted time to pitch an idea to a venture capitalist has quite a bit of value. So does a free Uber ride. Put them together and you have UberPITCH.
If you request an Uber on Friday between noon and 4 p.m., your car might show up carrying the likes of Josh Kopelman (First Round Capital founder) or Philip Moyer (Safeguard Scientifics senior vice president). Read more »
Uber’s low-cost, cheaper-than-a-cab UberX service may have its naysayers — including the Philadelphia Parking Authority, which maintains that the service is still very much illegal — but according to statistics just released by the company, Philadelphians certainly seem to be using the service. On Tuesday, Uber’s corporate office announced that UberX has hit one million rides in Philadelphia since its formal debut in October 2014. The company is counting any ride that originated in the five-county area. Read more »
When I wrote a few years back about the precipitous drop-off in the number of young men getting driver’s licenses, Uber was just beginning to get off the ground. I didn’t know enough about it to even consider that it might be a factor in the decline of the American male love affair with cars. Time flies; this week the New York Times reported that nowadays, instead of nagging their parents to take them for their driver’s tests and buy them Mustangs when they reach majority, kids are asking for their own Uber accounts.
As a parent, I’m of two minds about this. Considering how dangerous teen driving was even before the invention of cell phones and selfies, having anyone else but my kid behind the wheel when he heads out to a party or concert seems like a great idea. On the other hand, what’s next? Start-ups that come to your house and get you dressed? Hold your fork to your mouth? Read more »
A woman has alleged that an UberX driver raped her after picking her up in Old City on February 6th, according to a report she filed with the Philadelphia Police Department. The 33-year-old told police the UberX driver held her arms down, ripped her pants, and raped her. Read more »
The taxi business apparently isn’t what it used to be in Philadelphia.
The Pennsylvania Parking Authority in May will start selling cab medallions — the licenses required to own and operate a cab in the city — starting at $50,000 for a minimum bid. That might sound like a lot, but it pales compared to the $475,000 per medallion that the PPA tried (and failed) to sell just last fall.
PPA’s “General Counsel Dennis Weldon says there were concerns about the cost of making cabs accessible, which the medallions required, and competition from ride share services,” KYW reports, “so the authority is starting a new process with a minimum bid of $50,000.” Read more »
Anyone (okay, almost anyone) who rides taxicabs in Philadelphia with any frequency knows that compared to other major cities, our cabs are pretty terrible, which is part of the reason that services like Uber, UberX and Lyft are so damn popular here. Why on earth would you want to take a dirty old cab when these newfangled car services are so convenient, modern and clean? Read more »