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Comparable retail segment sales drop at Urban Outfitters
08 May '09
2 min read
Urban Outfitters Inc, a leading lifestyle specialty retail company operating under the Anthropologie, Free People, Terrain and Urban Outfitters brands, announced sales for the three months ended April 30, 2009.
Total Company sales for the first quarter reached $385 million, a 2% decrease from the comparable quarter in the prior year. Comparable retail segment sales, which include our Direct-to-consumer channels, decreased 7% for the quarter. Comparable store sales at Urban Outfitters, Anthropologie and Free People decreased 6%, 13% and 23%, respectively, for a combined decrease of 9.6%. Direct-to-consumer sales increased 4% and Wholesale segment sales were flat for the quarter.
"We believe our brands performed well given the challenging marketplace conditions," said Glen T. Senk, Chief Executive Officer. "While it is disappointing to report an overall decline in sales, we were encouraged by improvement in the trend during the latter half of April. We are reserving optimism until we see more consistent behavior from the consumer, but we believe we are well positioned to improve our performance in the second quarter," finished Mr. Senk.
During the three months ended April 30, 2009 the Company opened a total of five new stores including: one new Urban Outfitters store, two new Anthropologie stores and two new Free People stores. The Company expects to open approximately 42 new stores during the fiscal year and will release earnings results for the three months ended April 30, 2009 on May 14, 2009.
Total Company sales for the first quarter reached $385 million, a 2% decrease from the comparable quarter in the prior year. Comparable retail segment sales, which include our Direct-to-consumer channels, decreased 7% for the quarter. Comparable store sales at Urban Outfitters, Anthropologie and Free People decreased 6%, 13% and 23%, respectively, for a combined decrease of 9.6%. Direct-to-consumer sales increased 4% and Wholesale segment sales were flat for the quarter.
"We believe our brands performed well given the challenging marketplace conditions," said Glen T. Senk, Chief Executive Officer. "While it is disappointing to report an overall decline in sales, we were encouraged by improvement in the trend during the latter half of April. We are reserving optimism until we see more consistent behavior from the consumer, but we believe we are well positioned to improve our performance in the second quarter," finished Mr. Senk.
During the three months ended April 30, 2009 the Company opened a total of five new stores including: one new Urban Outfitters store, two new Anthropologie stores and two new Free People stores. The Company expects to open approximately 42 new stores during the fiscal year and will release earnings results for the three months ended April 30, 2009 on May 14, 2009.
Urban Outfitters Inc
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