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Urban Outfitters delivers exceptional results
08 May '08
2 min read
Urban Outfitters Inc, a leading lifestyle specialty retail company operating under the Anthropologie, Free People, Terrain and Urban Outfitters brands, announced record sales for the three months ended April 30, 2008.
Total sales for the three month period increased 25% to $394.3 million. Comparable ('comp') store sales at Anthropologie, Free People and Urban Outfitters rose 10%, 19% and 10%, respectively, for a combined 10% increase. Direct-to-consumer sales surged 34% and Free People wholesale sales increased 22%.
"It is gratifying to deliver such exceptional results. Our combined store performance produced double-digit 'comp' sales growth while our direct-to-consumer and wholesale channels continued to post significant sales gains," said Glen T. Senk, Chief Executive Officer.
"These results, despite recent slowing of the overall U.S. economy, are a testament to the ability of our brands and merchants to put forward a compelling product and environment that positively resonates with our customers," finished Mr. Senk.
During the three months ended April 30, 2008, the Company opened a total of 12 new stores including: 7 new Urban Outfitters stores, 1 new Anthropologie store, 3 new Free People stores and our first Terrain garden center.
Terrain is the Company's fourth concept which launched during the first quarter of this fiscal year, opening its retail garden center and cafe to the public in late April on the site of Styers' Nurseries in Concordville, PA.
The center offers a wide variety of indoor and outdoor plant material, an eclectic assortment of garden and outdoor living supplies, a cafe and a complete range of landscape and design services.
The Company plans to open approximately 45 new stores during fiscal year 2009. Management expects to release the Company's quarterly operating results on May 15, 2008.
Total sales for the three month period increased 25% to $394.3 million. Comparable ('comp') store sales at Anthropologie, Free People and Urban Outfitters rose 10%, 19% and 10%, respectively, for a combined 10% increase. Direct-to-consumer sales surged 34% and Free People wholesale sales increased 22%.
"It is gratifying to deliver such exceptional results. Our combined store performance produced double-digit 'comp' sales growth while our direct-to-consumer and wholesale channels continued to post significant sales gains," said Glen T. Senk, Chief Executive Officer.
"These results, despite recent slowing of the overall U.S. economy, are a testament to the ability of our brands and merchants to put forward a compelling product and environment that positively resonates with our customers," finished Mr. Senk.
During the three months ended April 30, 2008, the Company opened a total of 12 new stores including: 7 new Urban Outfitters stores, 1 new Anthropologie store, 3 new Free People stores and our first Terrain garden center.
Terrain is the Company's fourth concept which launched during the first quarter of this fiscal year, opening its retail garden center and cafe to the public in late April on the site of Styers' Nurseries in Concordville, PA.
The center offers a wide variety of indoor and outdoor plant material, an eclectic assortment of garden and outdoor living supplies, a cafe and a complete range of landscape and design services.
The Company plans to open approximately 45 new stores during fiscal year 2009. Management expects to release the Company's quarterly operating results on May 15, 2008.
Urban Outfitters Inc
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