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    Ahead of the Bell: Urban Outfitters exec changes

    Associated Press – Fri, Feb 3, 2012

    NEW YORK (AP) — Analysts differed on whether the latest executive shake-up at Urban Outfitters Inc. would help the clothing seller turn around its business. But investors seemed to like the move, driving shares up 6 percent in premarket trading Friday.

    Urban Outfitters said Thursday that it's replacing the CEO of its namesake brand with Tedford Marlow, who retired as Urban Outfitters president in 2010 after nine years in that role. In January, Urban Outfitters brought in the company co-founder and chairman, Richard Hayne, as company CEO. In November, it installed a former president of athletic apparel maker Under Armour Inc. to lead its Anthropologie division and named a former Coach Inc. and Abercrombie and Fitch Co. executive as chief merchandising officer for Urban Outfitters.

    A Janney Capital Markets analyst hailed the latest move, on Friday raising her rating on the retailer to "Buy" from "Neutral." Adrienne Tennant said "the collective history and knowledge of Dick Hayne and Ted Marlow will begin to positively impact the business" beginning in the second half of the year.

    She said the weak economy would remain a challenge for Urban Outfitters, but the company was improving its clothing offerings, which should help sales.

    The Philadelphia company, which also owns the pricier Free People chain, has been discounting heavily to drive sales and cut down its inventory, hurting its profitability.

    Other analysts were skeptical that management changes would help Urban Outfitters soon.

    Jefferies analyst Randal Konik backed his "Underperform" rating for the company, saying that if the stock does rise on the management news, investors should use it as an opportunity to sell their shares.

    He said the company's slowing growth, declining returns and increasing competition from other retailers overshadowed the new leadership.

    Baird's Erika Maschmeyer backed her "Neutral" rating for the stock, saying that the recent management upheaval could actually delay a turnaround.

    Shares rose $1.66 to $28.10 in premarket trading. The stock has dropped 21 percent over the past 52 weeks.

     

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