Urban Outfitters' Personnel Announcements
PHILADELPHIA--(BUSINESS WIRE)--Oct. 29, 2003--Urban Outfitters, Inc. (NASDAQ:URBN), a leading lifestyle consumer products company doing business under the Urban Outfitters, Anthropologie and Free People brands, today announced several personnel changes. First, John Kyees has accepted an offer to become the Company's Chief Financial Officer. Mr. Kyees has had extensive experience in the financial management of a number of specialty retail companies including the Express division of the Limited, Inc. and, most recently, bebe Stores, Inc.
"We are very excited to have John join our management team," said Mr. Hayne, President and Chairman of Urban Outfitters, Inc. "We believe that his considerable knowledge and understanding of specialty retailing will be very valuable as we continue to execute our aggressive growth strategy."
In another change, the Company announced that David Frankel, President of Free People, the wholesale brand that designs and sells young contemporary women's apparel, has tendered his resignation in order to pursue other business opportunities. Glen Senk, Executive Vice President, has assumed all managerial responsibilities for the brand until Mr. Frankel's replacement is named.
Urban Outfitters, Inc. is an innovative specialty retailer and wholesaler that offers a variety of lifestyle merchandise to highly defined customer niches through 56 Urban Outfitters stores in the United States, Canada, and Europe; an Urban Outfitters web site and catalog; 45 Anthropologie stores in the United States; an Anthropologie catalog and web site; and Free People, the Company's wholesale division, which sells its product to approximately 1,100 specialty stores, department stores and catalogs, as well as through one Free People store.
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. Richard A. Hayne, 215-564-2313 SOURCE: Urban Outfitters, Inc.