Retailer Urban Outfitters saw sales decrease 12.6% year over year in the second quarter, according to the company’s recent quarterly report. While Urban Outfitters brand sales decreased, the total company URBN sales increased by 7.5% during that time. The company plans to boost investments in the Anthropologie and Free People groups, which are seeing growth.
The Anthropologie group reported “outstanding second quarter performance,” according to global CEO of the Anthropologie Group, Tricia D. Smith.“These days it’s just harder, especially for younger consumers and those with less income, to do the kind of discretionary buying that As of last month, there were 200 Urban Outfitters stores in North America. The company plans to shed eight stores and open two more, bringing the total number to 194 by next January.
The Anthropologie group will grow from 216 stores in North America as of last month to 219 stores by January of next year and expand to 270 stores over the next several years. Locally, the brandSimilarly, URBN opened five FP Movement locations this year in North America, which are dedicated to the group’s retail activewear. Free People stores will increase from 146 this past January to 147 stores by next January in North America.