Urban Outfitters posted surprisingly awesome results this quarter. The chain has been criticised recently for selling overpriced fashions and missing key fashion trends. It also lost CEO Glen Senk, long considered to be the creative force behind the brand, back in January.
But Richard Hayne, a cofounder of Urban, announced this week that sales were up 11 per cent from a year earlier.
Here’s how they did it, according to Evan Clark at Women’s Wear Daily:
-Hayne slowed expansion in North America. He said that the brand is nearly “saturated” with its 250 stores.
-Urban focused on expanding in Europe and Asia, both hot markets for the retailer.
-The chain also put a system in place that allowed employees to fulfil any in-store or online order from any fulfillment centre. The result? Happier customers.
-Urban expanded its online-only offerings for a better selection.
And the future looks bright for Urban. Writes Clark:
Hayne hinted of other changes to come, telling analysts on a conference call that the retailer is “currently engaged in a process of rethinking the bricks-and-mortar experience with a goal of making it more exciting and enticing.” The ceo declined to get into specifics, but said the retooling would focus the stores on “experience and entertainment” and roll out in the next two years.
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