We note that Urban Outfitters has been rational with store openings. Encouragingly, during fiscal 2021, the company opened 20 new retail outlets — seven each Urban Outfitters and Anthropologie Group stores and six Free People stores (including two FP Movement stores). Meanwhile, it shuttered 10 retail locations — eight Urban Outfitters stores, one Anthropologie Group store and one Free People store. In the aforementioned period, six franchisee-owned stores were closed — four Urban Outfitters stores, one Anthropologie Group store and one Free People store.