A highly anticipated disappointment. This could be an early...

A highly anticipated disappointment.

This could be an early signal of a sentiment change from millennial or worse, a systemic change, away from UO and its brands. Or perhaps this is a change in the SimilarWeb algorithm.

A quick look on Similarweb at UO and Anthropologie, and Morphe Brushes Sept data show monthly users, referrals, and traffic have declined since August. Ultimately weighing APT down.

I'm pleased a multitude of significant brands have on-boarded since UO, which will reduce APT's reliance on Tier 1 brands overtime. However in the meantime I believe this is a 'cosmetic' setback. Twitter mentions have grown exponentially from the target demographic also based in the US in the previous months, many very positive.

Unfortunately not everything moves in perfect harmony like we hope, otherwise investing would be easy.