Despite Urban Outfitter’s struggle in their fourth quarter earnings, the retailer remains optimistic for their expansion plans.
Taking advantage of the favourable leasing terms, Urban has announced that it plans to open 34 new stores this year. Other reasons for their optimism include 138 per cent year-over-year growth for their athleisure Movement line with a digital sales lift of 150 per cent. This has spurred on the brands commitment to opening stand-alone Movement stores.
As well as this, Urban’s rebranding of Anthropology’s home category to AnthroLiving gave the division a boost in all four quarters of 2020, and is now predicted to reach $1bn in sales within five years.
The brand has recently opened a new store at Minnesota Ridgedale Mall which boasts a transparency that hooks customers.
