Wholesale segment net sales up at Urban Outfitters

13 Mar '12

4 min read

This benefit was partially offset by the deleveraging of direct store controllable expenses driven by the negative comparable store net sales. For the year ended January 31, 2012, selling, general and administration expenses, expressed as a percentage of net sales, increased to 23.3%, or 31 basis points, versus the prior comparable period.

This increase was primarily due to higher e-commerce and related marketing investments, as well as, the deleveraging of direct store controllable expenses driven by negative comparable store net sales. The net benefit associated with equity compensation reversals and lower incentive compensation costs were partial offsets.

The Company's annual effective tax rate for fiscal 2012 increased to 35.9% as compared to 34.6% for fiscal 2011. The fiscal 2011 effective tax rate was favorably affected by a one-time federal rehabilitation credit.

During fiscal 2012, the Company repurchased and retired 20.5 million common shares for approximately $538 million under a Board authorized share repurchase program. These repurchases completed all of the Company's repurchase authorizations under the program.

During the year ended January 31, 2012, the Company opened a total of 57 new stores including: 21 new Urban Outfitters stores, 15 new Anthropologie stores, 20 new Free People stores and 1 BHLDN store.

Urban Outfitters, Inc. is an innovative specialty retail company which offers a variety of lifestyle merchandise to highly defined customer niches through 197 Urban Outfitters stores in the United States, Canada and Europe, catalogs and websites; 168 Anthropologie stores in the United States, Canada and Europe, catalogs and websites.

Urban Outfitters Inc

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