Glen T. Senk Elected Urban Outfitters' CEO
PHILADELPHIA, May 23, 2007 (PRIME NEWSWIRE) -- Urban Outfitters, Inc. (Nasdaq:URBN), a leading lifestyle consumer products company operating under the Anthropologie, Free People and Urban Outfitters brands, today announced that Glen Senk has been promoted to Chief Executive Officer.
"I am pleased to announce that our Board of Directors has elected Glen Senk to the newly created position of Chief Executive Officer," said Richard A. Hayne, Chairman and President. "Glen joined our Company in the spring of 1994 as President of the then, one-store Anthropologie concept. Since then, he has served with great distinction by assembling and directing a highly talented team of individuals who have grown that single unit into one of the world's premiere consumer brands. Today, Anthropologie operates 95 retail stores, an award-winning catalog and a dynamic e-commerce website. Glen's role in the Company expanded when he assumed responsibility for the Free People brand in 2003. One year later he was elected to the Board of Directors," he added. "Glen is a gifted merchant and has earned the right to lead our three brands. I am confident that under his leadership our Company will continue to grow and prosper," Mr. Hayne concluded.
Urban Outfitters, Inc. is an innovative specialty retailer and wholesaler which offers a variety of lifestyle merchandise to highly defined customer niches through 110 Urban Outfitters stores in the United States, Canada, and Europe; an Urban Outfitters website and catalog; 95 Anthropologie stores in the United States; an Anthropologie website and catalog; and Free People, the Company's wholesale segment, which sells its product to approximately 1,500 specialty stores, department stores and catalogs, as well as through 8 Free People stores, a website and catalog.
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 filing may constitute forward-looking statements. 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, including 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 and other risks identified in 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: Urban Outfitters, Inc.
John E. Kyees, Chief Financial Officer