Direct-to-consumer net sales rise 17% at Urban Outfitters
07 Aug '09
2 min read
Urban Outfitters Inc, a leading lifestyle specialty retail company operating under the Anthropologie, Free People, Terrain and Urban Outfitters brands, announced sales for the three and six months ended July 31, 2009.
For the second quarter of fiscal 2010, total Company net sales increased by 1% over the same quarter last year to $459 million. Comparable retail segment net sales, which include our direct-to-consumer channels, decreased 3%. Comparable store net sales decreased 6% with declines at Anthropologie, Free People and Urban Outfitters of 4%, 16%, and 8%, respectively. Direct-to-consumer net sales rose 17% and wholesale segment net sales declined 7%.
"We were pleased that our total company comparable sales improved from the first quarter," said Glen T. Senk, Chief Executive Officer. "While we anticipate challenging marketplace conditions to persist for the second half of the year, we believe we are well positioned to continue to improve our performance," finished Mr. Senk.
During the six months ended July 31, 2009, the Company has opened a total of 15 new stores including: 6 new Urban Outfitters stores, 6 new Anthropologie stores and 3 new Free People stores. The Company expects to open 34 to 36 new stores during the full fiscal year. The Company will release earnings results for the three and six months ended July 31, 2009 on August 13, 2009.
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