Richard Hayne quotes:

Like Free People, the Urban brand is planning to grow by expanding product assortments, expanding the brand reach and by improved marketing.

The Free People brand plans to drive growth on three different fronts: product expansion, geographic expansion and improved marketing.

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.

Quite frankly, the Urban brand organization became too siloed, with too little communication across functional areas. The great creativity that has been the hallmark of our success became stifled.

For a suburban man aged 30 to 40, hell is going clothing shopping on a Saturday afternoon. There are about 5,000 other things they would put on the list ahead of clothes shopping.

Besides offering desirable products, the Free People brand continue to produce some of the most compelling imagery and customer engagement in the industry.

I invite you all to visit our new Harold Square or Space 98 stores in New York. I think you'll agree with me that these stores have a distinct Urban Outfitters personality, with fresh, exciting product and an experience that resonates with the 18 to 28 year old urban-dwelling customer.

We believe there is no fundamental structural changes in the young-adult market. There are, of course, fashion changes, and the success of each brand depends on the accuracy with which it predicts those changes.

While stores continue to be a very important part of our business, there is no mistaking the fact that the customers' shopping preference, measured by both traffic and sales, continues to move to a virtual experience.

Terrain has seen a strong uptick in brand awareness and direct-to-consumer traffic from their inclusion in the Anthropologie Group.

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.

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

Repositioning a brand is never easy and rarely without pain. I believe the Urban brand is making the necessary changes that will allow it to more fully engage its traditional customer and return to solid profitability.

I don't like all suburbs, just like I don't like all parts of cities.

The Anthropologie brand continues to succeed in emotionally engaging its customers while delivering strong financial results.

The model a lot of companies use is a very pyramidal model which sort of designates that all creativity, all wisdom flows from the top. We think that's the absolute wrong model.

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.