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Urban Outfitters CEO to Retire

Tedford Marlow, the CEO of Urban Outfitters Group, will retire this August, Urban Outfitters Inc. announced on Monday. He notified the company of his decision last Friday.

An industry veteran, Marlow helmed the troubled retailer twice in the past 15 years: His first stint as CEO was from 2001 to 2010, and he was rehired after company CEO Glen Senk abruptly quit in 2012 to lead New York jeweler David Yurman. His illustrious career includes a spell as CEO and president of Henri Bendel and executive positions at Saks Fifth Avenue.

As Urban Outfitters Inc. CEO Richard Hayne pointed out in a conference call discussing the company’s first-quarter earnings, when Marlow first joined Urban Outfitters in 2001 it operated 43 stores in North American, two in Europe and total sales that year were just north of $150 million. Today, the brand has grown to comprise 195 stores in the U.S., 43 in Europe and seven international concessions as well as several direct-to-consumer businesses, and sales are on track to exceed last year’s $1.4 billion.

“Ted’s loyalty to the brand and the customer is unwavering, and I am forever grateful to him for his service and his friendship,” Hayne shared, noting, “When Ted returned to the business in the spring of 2012, he told he only wanted to work for a few additional years. There is no way any of us could have anticipated how tumultuous those three years would be for the brand, but in true Ted Marlow style, he hunkered down, fought through the adversity and came out on top.”

A successor has not yet been announced.