PHILADELPHIA, Jan. 5, 2012 (GLOBE NEWSWIRE) -- Urban Outfitters, Inc. (Nasdaq:URBN), a leading lifestyle specialty retail company operating under the Anthropologie, Free People, BHLDN, Terrain and Urban Outfitters brands, today announced record net sales for the two months ended December 31, 2011.
Total Company net sales for the two months increased to $577 million or 11% over the same period last year. Comparable retail segment net sales, which include our direct-to-consumer channels, increased 4% while comparable store net sales were flat. Comparable retail segment net sales increased 3% at Urban Outfitters and Anthropologie and 9% at Free People. Direct-to-consumer comparable net sales jumped 17% for the period with all brands posting double digit growth. Wholesale segment net sales were down 1%.
"We are pleased to announce an 11% increase in our holiday sales," said Glen T. Senk, Chief Executive Officer. "The highly promotional environment coupled with our goal to reduce our overall inventory levels by the end of the fourth quarter led to more promotional offerings than originally anticipated." continued Mr. Senk.
For the 11-month period ended December 31, 2011, total Company net sales increased to $2.3 billion or 9% over the same period last year. Comparable retail segment net sales were flat while comparable store net sales decreased 4%. Direct-to-consumer comparable net sales rose 15% for the period and wholesale segment net sales increased 11%.
During the 11 months ended December 31, 2011, the Company opened a total of 50 new stores including: 18 new Urban Outfitters stores, 13 new Anthropologie stores, and 18 new Free People stores and 1 BHLDN store. The Company will release fourth quarter and fiscal year 2012 sales results on February 9, 2012.
Urban Outfitters, Inc. is an innovative specialty retail company which offers a variety of lifestyle merchandise to highly defined customer niches through 194 Urban Outfitters stores in the United States, Canada and Europe, catalogs and websites; 166 Anthropologie stores in the United States, Canada and Europe, catalogs and websites; Free People wholesale, which sells its product to approximately 1,400 specialty stores and select department stores; 60 Free People stores, catalogs and websites, 1 Terrain garden center and website and 1 BHLDN store and website as of December 31, 2011.
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," "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, and continuation of lowered levels of consumer spending resulting from the continuing worldwide economic downturn, 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, 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, potential difficulty liquidating certain marketable security investments 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) 454-4806Urban Outfitters, Inc.