UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) November 6, 2008
URBAN OUTFITTERS, INC.
(Exact Name of Registrant as Specified in its Charter)
| Pennsylvania | 000-22754 | 23-2003332 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
| 5000 South Broad St, Philadelphia PA | 19112-1495 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code (215) 454-5500
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4)) |
| Item 2.02. | Results of Operations and Financial Condition |
On November 6, 2008, the Company issued a sales release, which is attached hereto as Exhibit 99.1 and incorporated herein by reference. The sales release disclosed material non-public information regarding the Company’s sales for the three and nine months ended October 31, 2008.
| Item 9.01. | Financial Statements and Exhibits |
| 99.1 | Sales Release dated November 6, 2008 – Sales for the three and nine months ended October 31, 2008. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| URBAN OUTFITTERS, INC. | ||||
| Date: November 10, 2008 | By: | /s/ John E. Kyees | ||
| John E. Kyees | ||||
| Chief Financial Officer | ||||
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Exhibit Index
| Exhibit No. |
Description | |
| EX-99.1 | Sales Release dated November 6, 2008 – Sales for the three and nine months ended October 31, 2008. |
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Exhibit 99.1
URBAN OUTFITTERS, INC.
Philadelphia, PA – November 6, 2008
| For Immediate Release | Contact: | John Kyees | ||
| Chief Financial Officer | ||||
| (215) 454-5500 |
Urban Outfitters Q3 ‘Comp’ Sales Increase 10%
PHILADELPHIA, November 6, 2008 (GLOBENEWSWIRE) – 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 October 31, |
Nine months ended 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 | 1,055,800 | 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 Leifsdottir, 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.
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