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Urban Outfitters Q3 net sales rise by 14 percent

By FashionUnited

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Urban Outfitters, a leading lifestyle specialty retail company

operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, has announced a net income of 60 million dollars for the third quarter and 155 million dollars for the nine months ended October 31, 2012. Earnings per diluted share were 0.40 dollars and 1.06 dollars for the three and nine months respectively.

Total company net sales rose by 14 percent over the same quarter last year to 693 million dollars. Comparable retail segment net sales, which includes the comparable direct-to-consumer channel, increased by 8 percent for the quarter, while comparable store net sales decreased by one percent. Comparable retail segment net sales at Free People, Urban Outfitters and Anthropologie increased by 24 percent, 7 percent and 6 percent, respectively, for the quarter. Direct-to-consumer net sales increased by 36 percent and wholesale segment net sales rose by 7 percent for the quarter.

"Favorable customer response to our product offerings and better marketing resulted in record third quarter sales and significant margin improvement," said Chief Executive Officer Richard A. Hayne. "We see this trend continuing into the fourth quarter which bodes well for our holiday season."

For the third quarter of 2012, the gross profit rate improved by 222 basis points versus the prior year's comparable period. For the nine months ended October 31, 2012, the gross profit rate improved by 29 basis points versus the prior year's comparable period.

During the nine months ended October 31, 2012, Urban Outfitters, based in Philadelphia, opened a total of 39 new stores. Urban Outfitters is an innovative specialty retail company which offers a variety of lifestyle merchandise through 209 Urban Outfitters stores, 177 Anthropologie stores, 77 Free People stores, two BHLDN stores and two Terrain centers.
Urban Outfitters