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Urban Outfitters registers record sales across all brands
19
Feb '08
Urban Outfitters Inc, a leading lifestyle specialty retail company operating under the Anthropologie, Free People, and Urban Outfitters brands, announced sales for the fourth quarter and fiscal year ended January 31, 2008.

Total sales for the fourth quarter jumped by 29% over the comparable quarter last year to a record $465 million. Comparable store (comp) sales at Anthropologie, Free People and Urban Outfitters rose by 18%, 19% and 6%, respectively, for a combined 11% increase.

Direct-to-consumer sales surged by 39%, reflecting strong growth across all brands. Free People Wholesale also delivered an excellent performance for the quarter with sales increasing by a robust 34%.

"We are very pleased with our fourth quarter performance," said Glen T. Senk, Chief Executive Officer. "Record sales across all brands and channels combined with strong 'comps' validate our operating strategies and fashion direction. Moreover, based on each brand's exceptional January sales results, we are confident that our spring fashion assortments resonate with our customers," Mr. Senk added.

Sales for the year ended January 31, 2008 increased by 23%, to a record $1.5 billion. Total comparable store sales for the period increased by 5% versus a 6% decrease last year. Direct-to-consumer sales jumped by 34% and Free People Wholesale sales rose 27%.

During Fiscal 2008, the Company opened 16 Urban Outfitters stores, 15 Anthropologie stores and 7 Free People stores or 38 new stores in total. The Company plans to open 45 to 49 new stores, during Fiscal 2009. Management expects to release the Company's Fiscal 2008 financial and operating results on March 6, 2008.

Urban Outfitters Inc


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