Urban Outfitters Announces Fourth Brand
PHILADELPHIA, May 22, 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 plans to launch its fourth brand.
"We are pleased to announce plans to launch our fourth brand early next year," said Richard A. Hayne, Chairman and President. "Our new concept is designed to appeal to men and women interested in a creative, sophisticated experience. Borrowing from the expertise and success of our other three brands, the fourth will also create a compelling shopping environment -- this one inspired by the 'greenhouse'. Sites will be large and free standing. Merchandise will include lifestyle home and garden products combined with antiques, live plants and flowers," he added. "We have an outstanding opportunity to serve the affluent consumer by offering a unique brand that overwhelms the senses with an eclectic product mix presented in a setting infused with beauty," 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.
Urban Outfitters, Inc.
John E. Kyees, Chief Financial Officer