Urban Outfitters president steps down after less than a year

Urban Outfitters president Francis Pierrel has stepped down, the fashion retailer announced in a regulatory filing.

“We appreciate the contributions he made during his tenure and wish him well in his future endeavors,” the company said in a statement.

Pierrel was known for his extensive omnichannel retailing and wholesale experience, having previously worked as president of stores and ecommerce for Ralph Lauren, as well as holding senior roles at Lacoste and Diesel.

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He joined the company less than a year ago from Club Monaco, where he served as chief executive officer.

As president, he was tasked with overseeing the brand in North America and reported directly to Sheila Harrington, global chief executive officer of Urban Outfitters and the Free People Group.

The news comes weeks after Urban Outfitters reported a ‘record’ net sales increase for Q3, mainly driven by its owned brands Anthropologie and Free People, according to chief executive officer Richard Hayne.

Anthropologie Group saw a 13% rise in comparable retail segment net sales, while Free People saw 8% increase.

The Urban Outfitters brand declined by 9%, although this figure was partially offset by a 6% climb in wholesale segment net sales.

As a whole, the group reported a net income of $37.2m, equating to $128.2m  over a nine month period, with an earnings per diluted share of 1.36 dollars.



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