Introduction
Urban Outfitters (NYSE: URBN) has been the millennial's favorite store for quite some time, however, their sky-high prices have begun to catch up with them. As consumers move towards cheaper venues such as thrifting and discount stores, Urban Outfitters struggles to compete in a changing market. And as Urban Outfitters introduces a new subscription service Nuuly that allows consumers to rent clothes, they still fail to grasp what millennials want.
At $88 per month, the rate is unsustainable, and they estimate 50,000 subscribers within 12 months ($50 million in revenue). With their other