Urban Outfitters Announces Appointment of Steve Murray from Vans as Global President

Official press release: PHILADELPHIA, March 17, 2010 (GLOBE NEWSWIRE) — Urban Outfitters, Inc. (Nasdaq:URBN – News), a leading lifestyle specialty retail company operating under the Anthropologie, Free People, Leifsdottir, Terrain and Urban Outfitters brands, today announced that Tedford Marlow, President, Urban Outfitters Brand, will retire and be succeeded by Steve Murray on April 12, 2010. Mr. Marlow, 58, joined the Company in 2001 and has led the Urban Outfitters brand through a period of significant growth and expansion. “Ted is a powerful leader, stewarding the Urban brand’s most successful period in its 39 year history,” said Glen T. Senk, Chief Executive Officer. “He built a strong global team and provided a creative vision and foundation that will carry the brand for years to come. I know Ted is thankful for the passionate commitment of those that have been part of the Urban Outfitters brand during his time with the Company. Personally, on behalf of the board and all URBN employees, we thank Ted and wish him all the best in retirement.” Mr. Marlow is expected to remain at URBN through the spring of 2011 in the role of Executive Director of Business Development focusing on international expansion and special projects. Steve Murray, 49, will join the Company on April 12, 2010 from VF Corporation, where he served as President, VF Action Sports Coalition since February 2009 overseeing the Vans and Reef brands. Prior to assuming that role, Mr. Murray was President of VF’s Vans brand from 2004 to 2009. Mr. Murray had been the Chief Marketing Officer for Vans, Inc. from 2002 to 2004 and Senior Vice President, International...

Reef President Departs

Reef has announced that John Wilson, President of Reef, has left the company after 10 years of service. Steve Murray, President of Vans, will step in to John’s role in the interim. It is with great sadness that we report this news as Reef, and John Wilson in particular, have been long-time supporters of the association. We wish him the best in his new...

Quiksilver Stock Price Falls Below $1

As Quiksilver stock continues to drop and the sale of Rossignol continues to loom over the company’s head, rumors of a buyout by VF continue to swarm. VF, owner of Reef and Vans, is showing a strong portfolio despite the economy. Quiksilver would be a nice addition to their group. At this time, nothing has been confirmed. Analysts are waiting until the end of the fiscal quarter (Oct. 31) to see what happens with the pending sale of Rossignol. The intended buyers may be having trouble securing financing. Rossignol has been a drain on Quiksilver for some time and the company is planning to unload Rossignol for less than half what they paid to acquire it a few years...