Urban Outfitters Announces Changes to Store Leadership
Urban Outfitters, Inc. (NASDAQ:URBN), a portfolio of global consumer brands comprised of Anthropologie, Bhldn, Free People, Terrain and Urban Outfitters brands and our Food and Beverage division, today announced store leadership changes. As the Company adapts to the evolving retail environment and better positions itself for the future, each of URBN’s brands are moving to a more streamlined store leadership structure. This new organization will help each brand become more efficient, while continuing to provide customers with compelling shopping experiences. We estimate total one-time costs related to this project will be approximately $8 million incurred over the first and second quarters of fiscal 2018 and total future annualized savings related to this project to be approximately $25 million.