Urban Outfitters Plans to Focus on Anthropologie, Free People As Its namesake Brand Struggles

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Man waits in front of Urban Outfitters in Cambridge city center.
Urban Outfitters storefront in Cambridge, England. Philadelphia Navy Yard-based Urban Outfitters plans to focus on the growth of its Anthropologie and Free People segments as its namesake brand struggles.

Philadelphia Navy Yard-based Urban Outfitters is planning to focus on the growth of its Anthropologie and Free People segments in the next several years and make them into billion-dollar businesses as its namesake brand continues to struggle, writes Emma Dooling for the Philadelphia Business Journal.

The fashion and lifestyle retailer recorded a net income of $104.1 million in the second quarter of fiscal year 2024 ended July 31.

That is about 79 percent higher than the same time last year. The owner and operator of the Urban Outfitters, Anthropologie, Free People, Nuuly, and Menus and Venues brands recorded an eight percent growth year over year.

All of the company’s brands other than Urban Outfitters posted record second-quarter revenues, according to CEO Richard Hayne.

Meanwhile, the Urban Outfitters brand saw a drop in sales of 12.6 percent year over year in the second quarter.

“We’ve made some progress, but the teams know there is still much work to be done to right the Urban ship,” said Hayne during the company’s Tuesday earnings call. “That work is underway but could take longer than we originally expected.”

Read more about Urban Outfitters in the Philadelphia Business Journal.

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