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Urban Outfitters, the owner of national clothing chains with a presence in downtown Red Bank and Shrewsbury, reported strong revenue gains in its fourth fiscal quarter, even as stores that had been open more than a year struggled to match last year’s performance.
The Philadelphia-based company’s Urban Outfitters brand, which includes a store at Broad and West Front streets in Red Bank, saw a 16-percent jump in sales from the comparable period of a year ago, to $415 million, it reported.
The Philadelphia-based company’s Urban Outfitters brand, which has a store at Broad and West Front streets in Red Bank, saw a 10-percent jump in sales from the comparable period of a year ago, to $356 million, it reported.
Clearance sales helped boost Urban Outfitters to the highest quarterly sales in its history, the clothing retailer reported Monday.
But markdowns also led to lower profits at the Philly-based company, which has had a store in downtown Red Bank since November, 2009. Results are not disclosed by location.
The scaffolding that encloses the sidewalk is still up, but bit by bit, the temporary plywood sheathing has been coming down, giving passersby a peak into what many regard as the best hope for an economic rebound in downtown Red Bank.
We’re talking about the big new Urban Outfitters clothing and household goods store scheduled to open sometime next month at 2 Broad Street.
Company officials did not respond to a messages seeking verification that the store will open November 19.
But the company’s website has some promising news for jobseekers in the retail sector.
Retailer Urban Outfitters, which has been mum on its plans to open a store in Red Bank, has finally acknowledged the move.
It comes in the form of a job posting for store manager at the emporium planned for 2 Broad Street, at the corner of West Front.
After months of speculation, it’s official: Urban Outfitters is coming to Red Bank, delivering what retailers hope will be a caffeine jolt of foot traffic to an increasingly lethargic downtown scene.
Keith Alliotts, owner of 2-10 Broad Street, confirmed today that the youth-market clothing and apartment-goods retailer has signed a multiyear lease on 10,000 square feet of street-level retail.
He told redbankgreen that Urban would be taking possession of the space in the late summer or early fall, and “they’ll probably have a few months” worth of customizing to do before opening for business.
The deal, which had been said to be pending for months, has been widely viewed as a potential game-changer for the business district, which has seen as many as 40 storefronts vacant in recent months.
Business owners regard Urban as a powerful magnet able to draw not only large crowds of young, credit-card wielding shoppers and their parents into town, but household starters on a budget. They’re drawn by the store’s offerings of bedding, tableware and other items.
“Wow, that’s wonderful news,” said Margaret Mass, director of the Red Bank Visitors Center. “It couldn’t come at a better time. We’ll be expecting lots of new visitors.”
By JOHN T. WARD
The news prompted a 17-percent surge in price for the company’s shares, Bloomberg reported.
A trio of Urban Outfitters fans, led by Middletown resident Amie Falk, walk out of the store happy on its opening day Thursday. (Photo by Dustin Racioppi)
By DUSTIN RACIOPPI
They pulled the hulking glass door and trickled into Red Bank’s most anticipated business. They were greeted by a cadre of upbeat employees and set loose into a few thousand square-feet of the area’s newest hip retail wonderland.
And for those customers who hit Urban Outfitters in its first couple hours on Thursday, the experience didn’t disappoint.
“It was great,” said Amie Falk, of Middletown, summing up her shopping experience.
Falk arranged to meet with friends at the store for a morning of shopping, and by the time the group was finished, they came to a conclusion that will sound like music to local merchants.
“This store will definitely bring me to Red Bank more often,” said Darlene Weltman, of Atlantic Highlands.
By DUSTIN RACIOPPI
Two young women rounded the corner of Broad Street Monday night and headed left on West Front Street, their eyes fixed on a retail medley going on behind the tall glass windows.
The twentysomethings behind the glass were putting the finishing touches on display racks and examining the trendy looks of mannequins that just days ago lined the store’s inner perimeter as nothing more than nondescript plastic molds.
“I’m so excited for you, Urban Outfitters,” said one of the women as she looked into the window before disappearing from West Front’s sidewalk.
Given the Philadelphia-based giant’s international success, it’s no surprise there might be consumers chomping at the bit for Urban to open it’s doors to the public on Thursday. But on the periphery of Urban Outfitters’ enchanting mass of real estate at 2-10 Broad Street, there’s a contingent that can match the public’s excitement and trump it with hope Red Bank’s small business owners.
Looks like the parent company of Urban Outfitters, which is scheduled to open one of its housewares and clothing stores in downtown Red Bank next week, will arrive with a head of steam.
Philly-based Urban Outfitters Inc. today reported record third-quarter earnings of $62 million, up five percent from a year ago, and a six-percent jump in sales, to $506 million.
But a comparison of results at stores open in both periods shows that while sales at the company’s Anthropologie chain rose three percent, they were down five percent at Urban Outfitters stores and down two percent across all chains, which also include Free People and Terrain.
By DUSTIN RACIOPPI
Sometimes in small bunches, but mostly one-by-one, young job seekers dressed in the cutting edge, kitschy fashion that Urban Outfitters specializes in trickled into the Red Bank hotel from a downpour outside.
Over the course of an hour, about a dozen people showed made their way to a second-floor ballroom to fill out applications and interview for positions at the clothing store, which is set to open sometime next month.
By JOHN T. WARD
A Morris County-based real estate investment firm has acquired one of downtown Red Bank’s oldest and most prominent commercial structures.
The purchase of the home of an Urban Outfitters store by an arm of Saxum Real Estate is the firm’s third major investment in the town in the past 18 months, and the first for occupied space.
With the brickwork of the Urban Outfitters building across the street reflected in glass, workers applied brick to the facade of 7 Broad Street in Red Bank Tuesday. And over on Wallace Street, a mason repointed existing brick above Rocky’s Barber Shop.
The Greater Red Bank Green, along with the entire eastern and central parts of the United States, is expected to feel like a brick oven in coming days. According to the National Weather Service, dangerously hot conditions will arrive Wednesday, with “feels like” temperatures getting as high as 106 degrees. Excessive heat will may return Friday and persist through the weekend. Read the NWS heat advisory for more details.
Wednesday night, there’s also a chance of thunderstorms accompanied by high winds, lightning and flash flooding.
Check out the extended forecast below. (Photos by John T. Ward. Click to enlarge.)
By JOHN T. WARD
What could be the largest development project in Red Bank history would put 210 living units and more on a 2.7-acre parcel, redbankgreen has learned.
The project proposed by Saxum Real Estate would also include a 326-vehicle parking garage, co-working space and retail or restaurant space, according to a detailed plan filed last month.
Regular readers of redbankgreen‘s Retail Churn feature can vouch that things often move at a brisk clip in the business district of a town that the New York Times recently touted for its “urban vibe.”
But one thing that’s remained a model of consistency amid the churn is the Red Bank Sidewalk Sale, the 62nd annual edition of which returns Friday and runs through Sunday.
New to the Red Bank business district: solar-powered trash compactors paired with recycling bins, which RiverCenter executive director Jim Scavone says should help reduce spillage by holding five times the volume of standard containers. They also alert the borough when they’re full, he said.
The bins are or will soon be in four locations, said Scavone: on Broad Street outside Urban Outfitters and Starbucks; on Monmouth Street at the Count Basie Theatre; and outside West Elm on West Front Street. RiverCenter and the borough government splt the cost of the devices, which go for about $6,000 per set, Scavone said. (Photo by John T. Ward. Click to enlarge)
The home of Paul and Nancy Cagno, at the corner of Wallace and Mount streets, above, and the circa 1903 mansion that’s now the office of Smallwood Wealth Management, at 199 Broad Street, below, were among the four structures cited. (Photo by John T. Ward. Click to enlarge)
By JOHN T. WARD
Three Broad Street buildings and a home in the historic district won kudos from the Red Bank Historic Preservation Commission at a ceremony Tuesday night.
Kicking off what members hope to become an annual series, the commission honored property owners in four categories for “adding to the value of Red Bank by adding to the character” of the town, in the words of Chairwoman Michaela Ferrigine.
The building at 14 West Front Street, center above, has changed hands. The white one next door is the site of a proposed roof deck for the Downtown, at far right. (Photo by John T. Ward. Click to enlarge)
By JOHN T. WARD
This edition of redbankgreen‘s Retail Churn takes note of news at three key downtown properties.
Two are in the heart of a strip of businesses undergoing rapid change on West Front Street.
The other, on Broad Street, is marking the completion of an overhaul that’s been underway for more than three years.
Brian Salvatore, 24, spent his childhood hanging out “on the corner with all the punk kids” on Broad Street in Red Bank, he says.
That’s where Model Citizen found the 24-year-old Middletown resident one recent afternoon, his face decorated with a classic beard-and-handlebar-mustache combo that even the humidity couldn’t wilt.
It was smoldering summer day, much as it’s been here this week, and Broad Street in Red Bank was swarming with people downing iced coffees, ice cream – anything to keep them cool as they plowed through the thick, humid air.
Sitting on the bench outside Urban Outfitters was Mallory Morgan, 24, lighting her cigarette with such grace – not that we’re endorsing it! – her red lipstick perfectly in place, and wearing a tan and black hat that waved with each sultry breeze.