It had been a record week, and the vibe at Urban Outfitters headquarters was high. Adrenaline was palpable in executive offices, in design huddles, and on down to the models in skimpy threads pouting for a Free People Web shoot.

It was mid-March, and the retailer of insurgent chic had reported killer profits while other retailers watched shoppers weary of high gas prices go into hiding. You could almost hear towels snap a few days earlier as Wall Street analysts congratulated executives for putting up such good numbers. read the rest here