Consumer Discretionary
The Retail Tracker notes continued improvement in URBN’s product assortments, describing the current offering as focused, confident and well-positioned for the holidays with stronger gifting and better alignment to its customer. New leadership is credited with sharper merchandising and more responsive assortments visible across stores, online and social media. Anthropologie and Free People remain strong, attracting younger shoppers while maintaining core customers, with standout accessories, home and active lines. Nuuly, the rental platform, continues to expand rapidly, offering tariff resilience and appealing to younger, price-sensitive consumers. The Retail Tracker has been positive on the name since early in the year and remains so.
Edition: 223
- 31 October, 2025
What’s trending in Retail
Consumer Discretionary
Each week, The Retail Tracker offers an insightful perspective on retail, fashion and consumer trends and what it means for the stocks. So far this year, Garage is a standout, nailing the “sexy x comfy” aesthetic for teens and taking share from Aerie and Pink. Gap and Old Navy are “crushing it” with consistently strong assortments, offsetting tariff challenges through fewer markdowns. Meanwhile, Urban Outfitters and Nuuly are gaining traction, with Nuuly emerging as a promising rental and tech-driven play. Aritzia is showing good momentum with its best assortment in some time. Department stores may be in free fall, but the best Macy’s stores have never looked better. In contrast, Lululemon is losing its way, expanding beyond its core and diluting its brand identity, while Bath & Body Works' range of new items is exhausting.
Edition: 214
- 27 June, 2025
Consumer Discretionary
Janet Kloppenburg’s channel checks point to 3Q23 business trends continuing to be very healthy, with total revenues likely tracking above +7% consensus, driven by ongoing momentum in the women’s businesses. Anthropologie’s performance appears to be broad-based, with new customer acquisition fuelling gains with a younger millennial customer. Janet’s product reviews of Free People and FP Movement also reveal highly innovative and fashion directional assortments, which are driving meaningful market share gains. The strength of these brands is more than offsetting the protracted turnaround in UO, resulting in Janet's FY23 / FY24 EPS forecasts of $3.25 / $3.60 being nicely ahead of consensus of $3.16 / $3.33.
Edition: 171
- 13 October, 2023