We have a relationship with our customer, and that relationship translates into sales.

Each brand leader is focused on ensuring that the brand relationship with its customer is strong and differentiated. To accomplish this differentiation, we plan to offer her even more unique product and talk with her in new and exciting ways.

At URBN, we see ourselves as customer specialists, a collection of brands, each one specializing in one particular customer group, a particular lifestyle or a life stage. We offer her things she wants in environments that inspire her. We talk to her and listen to her ideas and opinions.

We must permeate the stores with creativity and offer service when and to the degree the customer wants it. Of course, it means offering all the omni bells and whistles they want, like in-store pickup, same-day delivery, and mobile point of sale, and all of this must be done every hour of every day the store is open.

We have built brands that resonate deeply with our customers. Our strategy to grow these brands is clear, and we have strong teams in place to execute this strategy. That is our formula for success.

Going forward, we are mindful of the challenges we face in the competitive retail landscape, but we have demonstrated that our concept of building compelling brands that focus on the customers' lifestyles can produce superior results. We will not waver from that concept.