Urban Outfitters, Anthropologie report record 2Q sales
Susan Dickenson -- Home Accents Today, 8/17/2010 3:40:20 PM
Urban Outfitters Inc. yesterday announced record second quarter sales and earnings growth for its retail brands Anthropologie, Urban Outfitters, Terrain, Free People and Leifsdottir. 
Anthropologie, Greensboro, N.C.
Net sales for the fiscal quarter ended July 31, 2010 rose by 20% over the same quarter last year to $552 million. For the six months ended July 31st, net sales increased by 22% to $1.03 billion from $843 million for the same period in 2009.
Accessories and housewares were the strongest performing category for the Urban Outfitters brand, which saw net sales increase by 15% for the quarter and 16% for the first half of the fiscal year, compared to last year's numbers.
Anthropologie's net sales for the second quarter rose 26% over the second quarter of 2009 to $256 million, led by strength in women's apparel. For the six months ended July 31, 2010 Anthropologie's net sales rose 31%, from $368 million in 2009, to $481 million.
"We are delighted to announce record second quarter sales and earnings, with every brand, channel, region and shared service group delivering exceptional results," said CEO Glen Senk. "Given the context of an uncertain economic environment, the company continues to focus on superior creative execution combined with disciplined inventory and expense management."
Anthropologie, currently ranked number 27 on Home Accents Today's list of the Top 50 Home Accent Retailers, opened three new domestic stores during the quarter bringing the global store count to 145. Selling square footage increased 14% versus the prior year to 1,069,806. Comparable retail segment sales, which include the direct-to-consumer channel, increased 13%. By region and store venue, Anthropologie's sales were positive in all locations but strongest in the West, and at mall locations. Terrain's net sales increased 22%.
During the second quarter, the company committed to a distribution and fulfillment center based in the UK Midlands that will support long-term growth for both the retail and direct-to consumer channels for all brands in Europe. The center is approximately 240,000 square feet and is expected to open in mid-year 2011.
In the company's second quarter conference call, Senk said Urban Outfitters Inc. is also laying the groundwork for a 2012 entry into Tokyo, will continue to invest in and shape the Terrain garden brand, and the company's new Wedding concept remains on target for a Spring 2011 launch.
During the six-month period, Urban Outfitters Inc. opened a total of 16 new stores including five Urban Outfitters, eight Anthropologies, and three Free People stores. The company expects to open approximately 45 new stores during the fiscal year.
As of July 31, 2010, Urban Outfitters, Inc. offered a variety of lifestyle merchandise, including apparel, home décor and gifts to highly defined customer niches through 160 Urban Outfitters stores in the U.S., Canada, and Europe, a catalog and two web sites; 145 Anthropologie stores in the U.S., Canada and Europe, a catalog and two websites; Free People wholesale, which sells its product to approximately 1,400 specialty stores and select department stores; 36 Free People stores, a catalog and web site; Leifsdottir wholesale, which sells its product to approximately 65 specialty stores and select department stores, and a Leifsdottir web site; and 1 Terrain garden center and web site.
It's great to see a large company doing well in this economy.
S Spencer - 2010-08-19 15:45:23 EDTGreat News! Creative leadership, vision and execution are irrefutable. Glenn Sink and his team are to be congratulated.
Robert B Currey - 2010-08-19 12:40:20 EDTJC Penney's ‘Home World' to include Michael Graves, Jonathan Adler, Terence Conran, Bodum, Martha Stewart
Home decor is big business at online retailer Hautelook.com
Dallas Market Center announces showroom expansions
Pier 1 Imports announces three-year growth plan, fiscal 2012 results
NYIGF spotlights craft with new exhibitors and programming
Featured Company
-
Wright Labels
Bill and Tom Wright founded Wright of Thomasville in 1961 on the idea that printing was a creative medium and the belief that "a promise made is a promise kept." The Wright brothers focused their attention on providing exceptional printing for the... more
