When was the last time you bought something out of Urban Outfitters?
The urban fashion chain store is loosing its appeal primarily because its clothes are no longer fashionable...“This is a fashion issue, plain and simple,” Chief Executive Officer Glen Senk said on a conference call to discuss earnings Nov. 14. “We need more compelling product.”
Here's an excerpt from a story that appeared last month in BusinessWeek:
Urban Outfitters was Louis Redondo’s favorite store for fashionable hats and T-shirts five years ago. Today, he says he’d be embarrassed to wear its bright, striped sweaters and flared velvet pants for anything except a Halloween costume.
“I used to walk out of there with my bags stuffed full of clothing,” said Redondo, a 30-year-old technical writer from Jersey City, New Jersey, who now shops at Hennes & Mauritz AB stores. “It was definitely my primary source. Today I’d just look comical if I shopped there -- I’d be laughed at.”
“Bizarre” and “lackluster” fashions at its namesake stores may be why Philadelphia-based Urban, which also operates Anthropologie and Free People, is losing investors’ confidence, said Pamela Quintiliano, a New York-based analyst at Oppenheimer & Co. The shares have slid 27 percent this year, the biggest drop among U.S. specialty apparel retailers except for Aeropostale Inc.
So I put it to the test, to see if their clothing really has become wack. When you check out their website, they give you a little snippet of what are their best fashion finds... but none were suggestive of swagger...
Read More about Urban Outfitter here: http://www.businessweek.com/news/2011-11-20/urban-outfitters-losing-investors-with-failing-fashions-retail.html