You're talking about a general business cycle. Even if they owned the products say like (No Fear Clothing), the company is vulnerable to changing tastes, production problems and general operator disinterest.
Being a retailer does not make you impervious, in fact it makes you more vulnerable IMO.
How many products can you name that are more than >50 years old? How many retailers can you name that are >50 years old?
As for Urban Outfitters, their net sales are more than triple what they were ten years ago. They don't see 30% year-on-year growth anymore, but they haven't seen a decline.
URBN is down 40% from their high stock price and analyst estimates are bad. That's the thing about retail your sales could be good, but your long term outlook bad. See my original comment about wall street hating retail.
Look at Target, they're killing it right now, but wall street still shits on their stock price.