URBN Announces Personnel Changes and a Sales Update
April 12 2021 - 8:00AM
Urban Outfitters, Inc. (NASDAQ:URBN), earlier this morning
announced a personnel change at the Anthropologie Group. Hillary
Super has stepped down as Global Chief Executive Officer. Her last
day was Friday, April 9th. We thank Hillary for her service over
the past four years and wish her well in the future.
Beginning today, Tricia D. Smith, has joined the
Anthropologie team as the new Global Chief Executive Officer. Ms.
Smith brings with her impressive retail experience earned over 26
years spent within the Nordstrom merchant organization where she
was Executive Vice President, General Merchandise Manager of
Women’s, Young Contemporary, Designer, and Specialized Apparel. In
2019, Tricia left Nordstrom to become Executive Vice President,
Chief Merchandising Officer, of Tilly’s.
“We are pleased to welcome Tricia into the URBN
family,” said Richard A. Hayne, Chief Executive Officer, URBN. “She
is an accomplished leader with extensive merchant experience. She
understands the Anthropologie customer, and I’m confident she will
successfully expand the brand’s equity and reach," finished Mr.
Hayne.
Separately, URBN is pleased to report that total
Retail segment comparable net sales thus far during the first
quarter of Fiscal 2022 have increased by high single-digits versus
Fiscal 2020. In North America, better sales were driven by
double-digit ‘comp’ results at both the Free People and Urban
Outfitters brands while Anthropologie sales have improved
substantially but remain slightly negative. Due to COVID-19 induced
restrictions, most of our European stores have remained closed in
Q1, however, UK stores are scheduled to re-open today. Fortunately,
exceptionally strong, triple-digital on-line sales increases have
largely offset the loss of store sales.
Urban Outfitters Inc. (URBN) is a leading
lifestyle products and services company which operates a portfolio
of global consumer brands comprised of Anthropologie, BHLDN, Free
People, FP Movement, Terrain, Urban Outfitters, Nuuly and Menus
& Venues brands. The Company’s brands offer
lifestyle-oriented general merchandise and consumer products
through 644 stores in the United States, Canada and Europe, global
websites, and catalogs. Free People, FP Movement and Urban
Outfitters wholesale sell their products through department and
specialty stores worldwide, digital businesses and the Company’s
Retail segment.
This news release is being made pursuant
to the “safe harbor” provisions of the Private Securities
Litigation Reform Act of 1995. Certain matters contained
in this release may contain forward-looking statements. When used
in this release, the words “project,” “believe,” “plan,” “will,”
“anticipate,” “expect” and similar expressions are intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words. Any
one, or all, of the following factors could cause actual financial
results to differ materially from those financial results mentioned
in the forward-looking statements: the impacts of public health
crises such as the coronavirus (COVID-19) pandemic, the difficulty
in predicting and responding to shifts in fashion trends, changes
in the level of competitive pricing and promotional activity and
other industry factors, overall economic and market conditions and
worldwide political events and the resultant impact on consumer
spending patterns, the effects of the implementation of the United
Kingdom's withdrawal from membership in the European
Union (commonly referred to as “Brexit”), including currency
fluctuations, economic conditions and legal or regulatory changes,
any effects of war, terrorism and civil unrest, natural disasters,
severe or unseasonable weather conditions or public health crises,
increases in labor costs, increases in raw material costs,
availability of suitable retail space for expansion, timing of
store openings, risks associated with international expansion,
seasonal fluctuations in gross sales, the departure of one or more
key senior executives, import risks, changes to U.S. and foreign
trade policies, including the enactment of tariffs, border
adjustment taxes or increases in duties or quotas, the closing or
disruption of, or any damage to, any of our distribution centers,
our ability to protect our intellectual property rights, risks
associated with digital sales, our ability to maintain and expand
our digital sales channels, response to new store concepts, our
ability to integrate acquisitions, any material disruptions or
security breaches with respect to our technology systems, failure
of our manufacturers and third-party vendors to comply with our
social compliance program, changes in our effective income tax rate
(including the uncertainties associated with the U.S. Tax Cuts and
Jobs Act), changes in accounting standards and subjective
assumptions, regulatory changes and legal matters and other
risks identified in the Company’s filings with the Securities and
Exchange Commission. The Company disclaims any intent or obligation
to update forward-looking statements even if experience or future
changes make it clear that actual results may differ materially
from any projected results expressed or implied therein.
Contact: |
Oona McCullough |
|
Director of Investor
Relations |
|
(215) 454-4806 |
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