Urban Outfitters Reports Holiday Sales
January 07 2016 - 4:05PM
PHILADELPHIA, PA, January 7, 2016 -
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 net
sales for the 2 and 11 months ended December 31, 2015.
Total Company net sales for the two months were
flat over the same period last year. Comparable Retail segment net
sales, which include our comparable direct-to-consumer channel,
decreased 2%. Comparable Retail segment net sales increased 2% at
Free People and decreased 2% at Urban Outfitters and the
Anthropologie Group, respectively. Wholesale segment net
sales increased 40% partially due to delayed shipments from the
third quarter carrying over into the fourth quarter. The
Company is now current on all Wholesale segment shipments and does
not anticipate any further delays.
"We continued to experience strong
direct-to-consumer growth at all our Brands during this Holiday
season," said Richard A. Hayne, Chief Executive Officer. "These
gains were offset by weaker store sales which we believe was driven
by declining store traffic. Highly effective inventory
management by our merchant teams will leave us with clean
inventories heading into the spring season," finished Mr.
Hayne.
For the eleven months ended December 31, 2015,
total Company net sales increased 4% over the same period last
year. Comparable Retail segment net sales increased
2%. Wholesale segment net sales increased 15%.
During the eleven months ended December 31, 2015, the Company
opened a total of 29 new stores including: 13 Anthropologie stores,
12 Free People stores, and 4 Urban Outfitters stores; and closed 2
Urban Outfitters stores and 1 Free People store.
Urban Outfitters, Inc. is an
innovative specialty retail company which offers a variety of
lifestyle merchandise to highly defined customer niches through 240
Urban Outfitters stores in the United States, Canada, and Europe,
catalogs and websites; 219 Anthropologie Group stores in the United
States, Canada and Europe, catalogs and websites; 113 Free People
stores in the United States and Canada, catalogs and websites; and
Free People wholesale, which sells its product to approximately
1,600 specialty stores and select department stores worldwide, as
of December 31, 2015.
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," "will," "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, continuation of lowered levels of consumer spending
resulting from a worldwide political and economic crisis, any
effects of terrorist acts or war, natural disasters or severe
weather conditions, availability of suitable retail space for
expansion, timing of store openings, risks associated with
international expansion, seasonal fluctuations in gross sales, the
departure of one or more key senior executives, 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, failure of our
manufacturers to comply with our social compliance program, changes
in accounting standards and subjective assumptions, regulatory
changes and legal matters 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 NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Urban Outfitters via Globenewswire
HUG#1977529
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