Product lines were intermixed and arranged in a variety of displays. For example, an antique bed might serve as the anchor for a section containing linens, towels, nightgowns, lingerie, soap, bath oils, picture frames.
Another small area might feature children's clothes, books, toys, and note cards, while birdhouses and diaries of handmade paper might be found alongside men's sweaters and pants.
The wholesale division introduced the Co-operative product line of fashion basics, consisting mostly of lower-priced cotton knit tops and sweaters. Profits also increased with the successful expansion of the company's higher-margin private label program.
The wholesale division opened a large sales office in New York. The company implemented its "Shared Fate" program for employees and initiated a company-wide profit sharing plan.
Total sales for the year grew at 43 percent. Hayne used the capital to continue his strategic plan of growth by adding new stores in the retail business and adding new customers and increasing sales to existing ones in the wholesale division. Based on the success of the Wayne, Pennsylvania, store, two more Anthropologie stores were opened in , in Westport, Connecticut, and Rockville, Maryland, just outside Washington, D.
In the company's annual report that year, Hayne indicated he hoped to open three to four additional Anthropologie stores each year and that the company would invest heavily in expanding the Anthropologie division. Overall company sales grew by 30 percent from Recognizing that high rates of growth would be difficult to maintain, the company set a goal of 20 percent annual growth. In , an Urban Outfitters store opened in Portland, Oregon, and lease signings were announced in Austin, Texas, and Tempe, Arizona, moving the company into the southwest for the first time.
With steadily increasing sales during this time, the company gained a ranking as number 76 on the Business Week list of hot growth companies. As it neared the end of the century, the Urban Outfitters and Anthropologie chains appeared to be going strong, and, after a quarter century, Hayne and his staff were still successfully anticipating and responding to shifts in fashion trends and the changing tastes of their customers.
James Press, As consumers, we often take for granted all the hard work that goes into building a great company. We see them around but we don't know what goes on behind the scenes. Finally, we can read about how these great companies came about with Company Histories. Copyright c Company-Histories. URBN aims to provide tools to both managers and employees in order to maximize the effectiveness of their time together through rich and consistent dialogue.
Naturally, we love to see our store and field employees continue to grow their careers with us and URBN supports this through our Store-to-Home Office initiative. We host regional informational sessions as well as events at our Home Office in Philadelphia to meet our store employees interested in making this transition. Application Status Are you creative? Are you entrepreneurial? Are you a self-starter? Check out some of the exciting opportunities we offer here.
American Journal of Business Education , 5 6 , — Droms, W. Finance and accounting for nonfinancial managers: All the basics you need to know. Marshall, D. Accounting: What the numbers mean 11th ed. Pages 2—53, 94— Securities and exchange commission Generally accepted accounting practices Los Angeles: Anthem Media Group. Ross, Sean Amortization vs.
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