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Urban Outfitters Q3 'Comp' Sales Increase 10 Percent

PHILADELPHIA, Nov 6, 2008 (GlobeNewswire via COMTEX News Network) -- Urban Outfitters, Inc. (Nasdaq:URBN), a leading lifestyle specialty retail company operating under the Anthropologie, Free People, Terrain and Urban Outfitters brands, today announced sales for the three and nine months ended October 31, 2008.

Total Company sales for the third quarter of fiscal 2009 increased to $478 million or 26% over the comparable quarter last year. Comparable ('comp') store sales at Urban Outfitters, Anthropologie and Free People rose 17%, 2% and 4%, respectively, for a combined increase of 10%. Direct-to-consumer sales jumped 41% and Free People wholesale sales climbed 21%.

"We are very pleased with our sales results during the quarter as all of our brands and channels achieved significant growth," said Glen T. Senk, Chief Executive Officer. "Given the recent economic conditions, however, we are approaching the Holiday and Spring seasons conservatively," continued Mr. Senk.

Net sales for the three and nine months were as follows:

                           Three months ended     Nine months ended
                               October 31,           October 31,
                           ------------------  ----------------------
                             2008      2007       2008        2007
                           --------  --------  ----------  ----------
                             (in thousands)         (in thousands)
 Urban Outfitters stores   $208,325  $160,864  $  557,927  $  431,703
 Anthropologie stores       158,852   139,980     470,063     396,137
 Free People stores           9,701     4,900      23,319      10,890
 Terrain                      1,266        --       4,491          --
                           --------  --------  ----------  ----------
  Net store sales           378,144   305,744   1,056,800     838,730
                           --------  --------  ----------  ----------
 Direct-to-consumer          65,916    46,777     184,662     132,822
                           --------  --------  ----------  ----------
  Retail segment net sales  444,060   352,521   1,240,462     971,552
                           --------  --------  ----------  ----------
 Wholesale                   33,893    26,799      86,078      70,761
                           --------  --------  ----------  ----------
  Total net sales          $477,953  $379,320  $1,326,540  $1,042,313
                           ========  ========  ==========  ==========

During the nine months ended October 31, 2008 the Company has opened a total of 41 new stores including: 18 new Urban Outfitters stores, 10 new Anthropologie stores, 12 new Free People stores and one new Terrain garden center. The Company expects to open approximately 47 new stores during the full fiscal year and will release earnings results for the three and nine months ended October 31, 2008 on November 13, 2008.

Urban Outfitters, Inc. is an innovative specialty retail company which offers a variety of lifestyle merchandise to highly defined customer niches through 140 Urban Outfitters stores in the United States, Canada, and Europe, two web sites and a catalog; 118 Anthropologie stores, a web site, catalog and Leifstottir, Anthropologie's newly launched wholesale concept; Free People Wholesale, which sells its product to approximately 1,700 specialty stores and select department stores; 27 Free People stores, a web-site and catalog; and one Terrain garden center as of October 31, 2008.

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.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Urban Outfitters, Inc.

Urban Outfitters, Inc.
John Kyees, Chief Financial Officer
(215) 454-5500