Business

Anthropologie Group Names CEO; Parent Company Reveals Current Quarter Sales Update

Anthropologie Group is mixing up its C-suite. 

Effective today, Tricia Smith is global chief executive officer of the women’s apparel, accessories and home furnishings brand, which is owned by Urban Outfitters Inc.

“We are pleased to welcome Tricia into the URBN family,” Richard A. Hayne, CEO of Urban Outfitters Inc., said in a statement. “She is an accomplished leader with extensive merchant experience. She understands the Anthropologie customer and I’m confident she will successfully expand the brand’s equity and reach.”

Smith — who has more than 26 years experience in the retail industry, including stints at Nordstrom and Tilly’s — succeeds Hillary Super, the former global CEO. Super’s last day was Friday. 

“We thank Hillary for her service over the past four years and wish her well in the future,” the company said in a statement Monday.

Anthropologie has been under pressure during the pandemic, as the lack of in-person events has also decreased the need for occasion wear and other festive attire. Revenues at Anthropologie fell 11 percent in the most recent quarter. 

But the retailer — which also counts Free People, Terrain and Bhldn among its brands, in addition to rental subscription service Nuuly and a food and beverage business in the company portfolio — said things are looking up.

View Gallery

Related Gallery

All of the Fashion at the 2021 BAFTA Awards

During the March 2, conference call with analysts, Hayne said, “We’re particularly excited by the recent uptick in demand for ‘going-out’-type apparel and believe this bodes well for our spring and summer seasons.”

On Monday, the company revealed total retail segment comparable net sales thus far during the current quarter, or fiscal year 2022, have increased in the high-single digits, compared with the first quarter pre-pandemic, or fiscal year 2020. 

At Anthropologie, specifically, the company said sales have “improved substantially, but remain slightly negative.” Meanwhile, overall company sales have improved thanks to double-digit comp results in North America at both Free People and the nameplate brand. 

In addition, company stores in the U.K. are scheduled to reopen today. Urban Outfitters has 644 stores across its brands in North America and Europe. Most stores in Europe were closed during the first quarter because of COVID-19 lockdowns. The company said triple-digit online sales during the quarter help offset losses. 

But investors weren’t sold. Company shares were down nearly 4 percent during Monday’s session.

Source: Read Full Article