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All round performance by Urban Outfitters' brands in Q3
11 Nov '05
3 min read
Thus far this fiscal year, gross profit margins have increased by 35 basis points, primarily due to higher initial margins and improved inventory management resulting in lower shrink and obsolescence. These increases more than offset a 63 basis point reduction in third quarter gross profit margins.
As of October 31, 2005, total Company inventories grew by $57.3 million on a year-over-year basis. The acquisition of inventory to stock new retail stores was the primary factor for this increase. Total comparable store inventories grew by 18% on a unit basis and 22 percent on a dollar basis.
This year's increase reflects the earlier delivery of Fall/Holiday Season merchandise and a build in Anthropologie's housewares inventory which posted strong double-digit 'comp' sales results during the third quarter. While inventory weeks of supply are somewhat higher than last year, we believe they are appropriate given the current sales trend.
The Company plans to open a total of 30-32 new stores in the current fiscal year, including 4 new Free People stores. Thus far during fiscal year 2006, the Company has opened 21 new stores.
Leading lifestyle consumer products retailer Urban Outfitters Inc is an innovative specialty wholesaler which offers a variety of lifestyle merchandise to highly defined customer niches through 84 Urban Outfitters stores in the United States, Canada, and Europe; an Urban Outfitters web site and catalog; 73 Anthropologie stores in the United States; an Anthropologie web site and catalog; and Free People, the Company's wholesale division, which sells its product to approximately 1,100 specialty stores, department stores and catalogs, as well as through 5 Free People stores, a catalog and web site.
As of October 31, 2005, total Company inventories grew by $57.3 million on a year-over-year basis. The acquisition of inventory to stock new retail stores was the primary factor for this increase. Total comparable store inventories grew by 18% on a unit basis and 22 percent on a dollar basis.
This year's increase reflects the earlier delivery of Fall/Holiday Season merchandise and a build in Anthropologie's housewares inventory which posted strong double-digit 'comp' sales results during the third quarter. While inventory weeks of supply are somewhat higher than last year, we believe they are appropriate given the current sales trend.
The Company plans to open a total of 30-32 new stores in the current fiscal year, including 4 new Free People stores. Thus far during fiscal year 2006, the Company has opened 21 new stores.
Leading lifestyle consumer products retailer Urban Outfitters Inc is an innovative specialty wholesaler which offers a variety of lifestyle merchandise to highly defined customer niches through 84 Urban Outfitters stores in the United States, Canada, and Europe; an Urban Outfitters web site and catalog; 73 Anthropologie stores in the United States; an Anthropologie web site and catalog; and Free People, the Company's wholesale division, which sells its product to approximately 1,100 specialty stores, department stores and catalogs, as well as through 5 Free People stores, a catalog and web site.
Urban Outfitters Inc
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