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URBAN OUTFITTERS, INC.

(URBN)
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Urban Outfitters : taps Qlik to put real-time data in hands of managers, associates

06/24/2021 | 06:00am EDT

Urban Outfitters Inc. is deploying the Qlik Sense Enterprise SaaS to expand in-store reporting access of near real-time data to store managers and associates across its 650-plus U.S. and EMEA locations.

The cloud analytics technology will help drive decision-making and boost customer satisfaction, according to a press release, by providing dashboards and reports updated with fresh data every two minutes. The initiative will also consolidate three previously separate reporting locations into one central Qlik hub, creating efficiencies that will give employees back essential time to increase customer engagement and satisfaction.

"Our data strategy is centered on maximizing the efficiencies and scalability of the cloud, and whenever possible creating cloud-to-cloud synergies," John Devine, Urban Outfitters CIO, said in the release. "We already benefit from Qlik Data Integration feeding our Snowflake cloud data warehouse. With Qlik sitting on top of Snowflake, we can confidently scale access to more near real-time data for in-store employees. This will help improve store performance wherever our associates are in the world, while reducing the stress and costs associated with managing our on-premise data sources."

Now, through one central Qlik location, every store employee can get up to the minute data on all aspects of the individual store's KPIs, including things like inventory receipts, store conversions, exceptions analysis and top 50 sales by store — and act on those insights immediately. One important benefit to Urban Outfitters is the ability to quickly create reports. One such report is showcasing 'last last year' analysis, since data from 2020 isn't reflective of current market conditions. As associates become more comfortable with data and have new ideas for data insights and exploration, the Urban Outfitters team will be able to develop and provide new Qlik apps in just a few hours to the entire global store employee ecosystem.

The ability for store managers and associates to share unique views into current data in one location will help align individual store strategies for maximum flexibility and customized market conditions.

Urban Outfitters Inc. is rolling out in-store analytics with Qlik across all its U.S. locations, with plans to continue the full roll out to EMEA stores through June.

Copyright © 2021 Networld Media. All rights reserved., source Industry News

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Financials (USD)
Sales 2022 4 508 M - -
Net income 2022 331 M - -
Net cash 2022 668 M - -
P/E ratio 2022 9,71x
Yield 2022 -
Capitalization 3 199 M 3 199 M -
EV / Sales 2022 0,56x
EV / Sales 2023 0,51x
Nbr of Employees 14 250
Free-Float 61,1%
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 32,52 $
Average target price 42,19 $
Spread / Average Target 29,7%
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Managers and Directors
Richard Allan Hayne Chairman & Chief Executive Officer
Francis John Conforti Co-President & Chief Operating Officer
Margaret A. Hayne Co-President, Director & Chief Creative Officer
Melanie Marein-Efron Chief Financial Officer
Dave Hayne Chief Technology Officer
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