2012-02-09 13:32:05 -
PHILADELPHIA, PA, February 9, 2012 - Urban Outfitters, Inc.
(NASDAQ:URBN), a leading lifestyle specialty retail company operating under the
Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands today
announced record net sales for the quarter and year ended January 31, 2012.
For the fourth quarter of fiscal 2012, total company net sales increased 9% over
the same quarter last year to $731 million. Comparable retail segment net sales,
which include the direct-to-consumer channels, increased 2% for the quarter,
while comparable store net sales decreased 1% for the quarter. Comparable retail
segment net sales at Urban Outfitters, Free People and Anthropologie increased
3%, 9% and 1%, respectively. Direct-to-consumer comparable net sales increased
14% and wholesale segment net sales rose 3% for
the quarter.
For the year ended January 31, 2012, total Company net sales increased to $2.5
billion or 9% over the prior year. Comparable retail segment net sales were flat
while comparable store net sales decreased 4%. Direct-to-consumer comparable net
sales rose 14% for the year and wholesale segment net sales increased 11%.
"While each brand reported record sales for the fourth quarter, we are most
pleased with the progress the teams made on reducing overall inventory levels.
Promotional activity was significantly higher than planned but ending
inventories were clean, and on a comparable store basis, lower than the prior
year," said Richard Hayne, Chief Executive Officer. "The direct-to-consumer
channel remains a highlight with each brand experiencing strong growth during
the quarter. We remain especially excited about the opportunities surrounding
this channel."
Net sales by brand and channel for the three and twelve months were as follows:
Three Months Ended Twelve Months Ended
January 31 January 31
------------------------- ----------------------------
Net sales by brand 2012 2011 2012 2011
------------ ------------ -------------- -------------
Urban Outfitters $ 356,769 $ 321,772 $ 1,155,293 $ 1,041,502
Anthropologie 299,198 283,418 1,044,525 1,011,999
Free People 69,864 58,941 250,412 202,493
Other 4,817 4,259 23,571 18,108
------------ ------------ -------------- -------------
Total Company $ 730,648 $ 668,390 $ 2,473,801 $ 2,274,102
------------ ------------ -------------- -------------
Net sales by channel
Retail Stores $ 532,043 $ 492,381 $ 1,835,831 $ 1,720,002
Direct-to-consumer 166,935 145,282 504,963 433,790
------------ ------------ -------------- -------------
Retail Segment 698,978 637,663 2,340,794 2,153,792
------------ ------------ -------------- -------------
Wholesale Segment 31,670 30,727 133,007 120,310
------------ ------------ -------------- -------------
Total Company $ 730,648 $ 668,390 $ 2,473,801 $ 2,274,102
------------ ------------ -------------- -------------
During 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. The Company will release fourth quarter
and fiscal year 2012 earnings results on March 12, 2012.
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; Free People wholesale, which sells its product to
approximately 1,400 specialty stores and select department stores; 62 Free
People stores, catalogs and websites, 1 Terrain garden center and website and 1
BHLDN store and website as of January 31, 2012.
This news release is being made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995. Certain matters contained in
this release may constitute forward-looking statements. When used in this
release, the words "project," "believe," "plan,"
"anticipate," "expect" and
similar expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these identifying words. Any
one, or all, of the following factors could cause actual financial results to
differ materially from those financial results mentioned in the forward-looking
statements: the difficulty in predicting and responding to shifts in fashion
trends, changes in the level of competitive pricing and promotional activity and
other industry factors, overall economic and market conditions and the resultant
impact on consumer spending patterns, lowered levels of consumer confidence and
higher levels of unemployment, and continuation of lowered levels of consumer
spending resulting from the continuing worldwide economic downturn, any effects
of terrorist acts or war, availability of suitable retail space for expansion,
timing of store openings, seasonal fluctuations in gross sales, the departure of
one or more key senior managers, import risks, including potential disruptions
and changes in duties, tariffs and quotas, the closing of any of our
distribution centers, our ability to protect our intellectual property rights,
risks associated with internet sales, response to new store concepts, potential
difficulty liquidating certain marketable security investments and other risks
identified in the Company's filings with the Securities and Exchange Commission.
The Company disclaims any intent or obligation to update forward-looking
statements even if experience or future changes make it clear that actual
results may differ materially from any projected results expressed or implied
therein.
###
Contact:
Oona McCullough
Director of Investor Relations
(215) 454-4806
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Urban Outfitters via Thomson Reuters ONE
[HUG#1583982]
