Urban Outfitters posted record second-quarter sales and earnings beat expectations.
The Philly-retailer reported sales of $867 million — a 7 percent increase and the company’s highest second-quarter ever. Net sales increased 14 percent at Free People ($154 million), 4 percent at Urban Outfitters ($342 million) and 2 percent at the Anthropologie Group ($370 million). It saw a net increase of four stores and a 21 percent growth in wholesale sales. Read more »
While Urban comes under fire, Target slides under the radar. | Image via Target.com.
Urban Outfitters is in the headlines again, this time for offending Hindus by selling a ceramic jewelry stand in the shape of a Hindu goddess. As the Philadelphia Business Journal noted, this is the third time Urban has pissed off Hindus (the previous times were for using the likeness of deity Lord Ganesha on very un-divine things like socks and duvet covers). According to the Journal, the company pulled the jewelry stand from its website after Twitter complaints by Rajan Zed, the president of Universal Society of Hinduism.
But while Urban seems to find itself time and time again at the blistering center of these firestorms (neck and neck with American Apparel, which clings to headlines with pubic-haired mannequins), it’s not for lack of trying by other companies. Over at Target, there’s this “Hot Now Ganesha Throw.” Walmart sells this $39.99 Ganesha vinyl wall decal. Here’s a Ganesha dog tag. So why aren’t people up in arms about these? Read more »
1. Buy URBN Right Now
The News: When discussing Urban Outfitters‘ stock (URBN), Jefferies analyst Randal Konik made his opinions very clear — it’s a big buy. In fact, Konik said the stock has the potential to increase by 36 percent and hit $50.
Here are some of his reasons, highlighted in a Barron’s article. Read more »
Poor Urban Outfitters…
Urban Outfitters is feeling the heat on Twitter over high prices. Armed with #UrbanOutfittersBeLike, people are berating the Philly-based retail giant over high prices.
It’s hardly the first time the Twitterverse has turned on Urban, which has long been the subject of ridicule for its offensive items — like the bloody Kent State sweatshirt, the Depression T-shirt or the Ghettopoly board game. The backlash seemed to have started when @wholeyattamoney tweeted this about Urban Outfitters’ $8 hair ties. Read more »
These sticks are for sale. | Free People.
Every summer, my style veers off into bohemia, probably the last vestiges of my semi-hippie college self. It’s when I wear the two Free People items of clothing I own — a high-neck, sheer wisp of a dress and a lacy slip I layer with everything. But even though I can appreciate the store’s dreamy, summer-perfect clothes, I cannot forgive them their absolutely insane home collection, which seems like a huge joke they’re playing on us, laughing in their Navy Yard offices while we spend $28 on a bag of nails. Here are the six most ridiculous items in their decor lineup. Read more »
It’s been clear since the get go that Marc Vetri, Jeff Benjamin and the rest of the Vetri Family team planned to expand their Pizzeria Vetri concept beyond Philadelphia. And now through their connections with Urban Outfitters, they’ve locked up their first out-of-market location. Benjamin tells Danya Heninger for Billy Penn that the Pizzeria Vetri will be opening next to an Austin Urban Outfitters.
Closer to home, Vetri’s restaurants could become part of Urban Outfitters’ lifestyle village in Devon. That project is slated to include an Urban Outfitters store plus a Terrain and Anthropologie, as well as 138-unit apartment building and restaurants. Though the deal isn’t finalized, Benjamin tells Heninger that there will likely be more than one Vetri Family restaurant in the Devon Yard project.
Pizzeria Vetri reveals big expansion: With Urban Outfitters’ help, to Austin and beyond [Billy Penn]
Pizzeria Vetri [Foobooz]
A 2013 rendering of URBN’s plans for the Devon Yard complex. | Image courtesy of Urban Outfitters.
Remember that Devon Yard project, URBN’s cool-kid answer to the strip mall? A brief run-down: Urban Outfitters’ parent company announced it was building a $100 million complex, complete with Terrain and Anthropologie outposts, restaurants, some sort of wellness facility, a boutique hotel and a specialty food market. Everyone got very excited and then … silence.
Finally, though, we’re seeing some signs of life on that “lifestyle village.” Last week, our sister blog Property reported that the project’s developers have sought a zoning code amendment, which is a small but crucial step in getting Devon Yard off the ground. Go here to see the plans for the village. (A note: The plans includes apartments, in case you’ve ever wanted to actually live inside Terrain/Anthro).
From 2013: An artist’s rendering of preliminary plans for Urban Outfitters’ $100 million Devon Yard complex, as viewed from the northeast. (Image courtesy of Urban Outfitters)
It looks like a big-time project in the ‘burbs will soon be awakened from its slumber. Developers Waterloo Devon L.P. (an Eli Kahn company), along with Urban Outfitters (URBN) and Anthropologie, will head before the Easttown Township Planning Commission to seek a recommendation for an amendment to the zoning code that would ultimately allow the Devon Yard project to move forward under a special Overlay District on the site at Lancaster Avenue and Devon Boulevard. The public meeting will be held on April 27 at 7 p.m. at the Hilltop House, 570 Beaumont Road, Devon.
Back in 2013, the development team announced a lifestyle village what would include retail, another garden center, multiple restaurants and a boutique hotel called the Devon Inn, the “driver” of the community. Until recently, those plans haven’t really gone anywhere, but they have appeared to have changed a bit. Read more »
Does it pay to be the bad guy?
Urban Outfitters has been courting controversy for years. It’s part of their schtick — they stride the line between a raised eyebrow and a raised fist with aplomb. As soon as they sink back into the usual thrum of retail, they claw back into the limelight with another poorly (or brilliantly?) conceived product. Hey, any publicity is good publicity, right? Read more »