Urban Outfitters reports record sales
Home Accents Today Staff -- Gifts & Dec, November 19, 2012
PHILADELPHIA, Pa. - Lifestyle retailer Urban Outfitters, Inc., operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, announced net income of $60 million and $155 million for the three and nine months ended Oct. 31, 2012, respectively.
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"Favorable customer response to our product offerings and better marketing resulted in record third quarter sales and significant margin improvement," said CEO Richard A. Hayne. "We see this trend continuing into the fourth quarter which bodes well for our holiday season."
Total company net sales rose by 14% over the same quarter last year to $693 million. Comparable retail segment net sales, which include comparable direct-to-consumer channel, increased by 8% for the quarter, while comparable store net sales decreased by 1%. Comparable retail segment net sales at Free People, Urban Outfitters and Anthropologie increased by 24%, 7% and 6%, respectively, for the quarter. Direct-to-consumer net sales increased by 36% and wholesale segment net sales rose by 7% for the quarter.
During the nine months ended Oct. 31, 2012, the company opened a total of 39 new stores, including 15 Free People stores, 12 Urban Outfitters stores, 10 Anthropologie stores, one BHLDN store and one Terrain garden center, and closed one Anthropologie store.
Urban Outfitters, Inc. offers a variety of lifestyle merchandise to highly defined customer niches through 209 Urban Outfitters stores in the United States, Canada, and Europe, catalogs and websites; 177 Anthropologie stores in the United States, Canada and Europe, catalogs and websites; Free People wholesale, which sells its product to approximately 1,400 specialty stores and select department stores, 77 Free People stores in the United States and Canada, catalogs and websites; two BHLDN stores and a website and two Terrain garden centers and a website, as of Oct. 31, 2012.
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