Bedford Square is remaking downtown Westport.
And Urban Outfitters — across the street on Church Lane — is remaking itself.
The hipster-ish retailer — whose shares have plunged more than 50% since March — has just bought a restaurant group. Vetri Family is best known for Pizzeria Vetri. Food and Wine Magazine recently called it the best pizza place in the country.
The Vetri group plans to integrate restaurants and/or coffee shops in at least 3 Urban Outfitters locations: Herald Square; Austin, Texas — and Westport.
“Spending on casual dining is expanding rapidly, and thus, we believe there is tremendous opportunity to expand the Pizzeria Vetri concept,” says Urban Outfitters CEO Richard Hayne.
Investors were not impressed. Urban Outfitters shares dropped another 7.5% yesterday.