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According to first quarter reports, spring at Urban Outfitters Inc.—home to Free People, Anthropologie and Urban Outfitters—hasn't been too shabby. Spring at Urban Outfitters, the brand, has kind of sucked though. And chief exec Richard Hayne isn't just blaming the weather for the company's ills. In addition to an entire shopping class depressed by the cold and rain/snow, he pointed in a performance report to youth unemployment and even noted that the brand's internet presence has been "off point," saying, "Sales correlate directly with fashion hits and misses, and I believe the Urban brand has had fewer hits than normal." And then there's always the fall-back blame in the teen market: Competition is tough with the likes of Uniqlo, Forever21 and H&M.
But fear not Urban. Festival season is nearly upon us all. Hopefully Free People won't monopolize the whole beaded-lace-embroidered-tank-top market.
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