The parent company of Urban Outfitters, Anthropologie and Free People has announced the departure of chief operating officer Calvin Hollinger and revealed a slew of promotions in its senior management team.
Shares in the Philadelphia-based fashion retailer shot up more than 12% in the extended session on Tuesday, as the company reported a surprise Q2 profit of $34 million thanks to double-digit digital growth.
As Covid-19 continues to spread, Monday saw a number of North American retailers moving to protect consumers and employees by implementing store closures, including Nordstrom, Guess, Canada Goose, VF, PVH and Ulta.
The group's closings will last until at least March 28, and will include the complete portfolio of the company's global brands, including its Anthropologie, Bhldn, Free People, Terrain, Urban Outfitters and Nuuly brands.
The American fashion retailer announced a significant decline in its fourth-quarter earnings on Tuesday, a disappointing end to the year that the company blamed on higher markdowns in its retail segment.