Urban Outfitters (URBN) Reports 9% Increase in Comps for Q409

Urban Outfitters, Inc. (NASDAQ: URBN) today announced record sales for the fourth quarter and fiscal year ended January 31, 2010.

Total Company sales for the fourth quarter reached a record $589 million, an increase of 16% over the comparable quarter last year. Comparable retail segment sales, which include our direct-to-consumer channels, increased 9% for the quarter. Comparable store sales rose 10% and 11% at Anthropologie and Free People, respectively and were flat at Urban Outfitters, for a combined comparable store sales increase of 4%. Direct-to-consumer sales surged 28% reflecting strong growth across all brands and wholesale sales continued to improve during the quarter, down 2% versus the same quarter last year.

"We are proud to deliver strong sales results, including a 9% retail 'comp' supported by a 28% rise in direct-to-consumer revenue," said Glen T. Senk, Chief Executive Officer. "Early sales reads and well-positioned inventory provide us with continued optimism as we transition to the Spring season," finished Mr. Senk.

Sales for the year ended January 31, 2010 increased 6%, to a record $1.9 billion. Comparable retail segment sales increased 1% for the period. Total Company comparable store sales decreased by 3% for the period versus an 8% increase in the prior year. Direct-to-consumer sales rose 19% and wholesale sales declined 5%.

Net sales for the periods were as follows:

                                      Three months ended    Twelve months ended



                                           January 31,           January 31,

                                      --------------------  ----------------------



                                          2010       2009       2010        2009

                                      ----------  --------  ----------  ----------

                                          (in thousands)         (in thousands)

  Urban Outfitters stores    $227,858  $213,435    $760,133    $771,362

  Anthropologie stores        211,740   172,098     704,849     642,161

  Free People stores           11,738     9,588      38,752      32,907



  Terrain                             1,438     1,165       6,260       5,656

                                       ----------  --------  ----------  ----------



   Store net sales               452,774   396,286   1,509,994   1,452,086

                                       ----------  --------  ----------  ----------



  Direct-to-consumer          112,231    87,810     323,739     272,472

                                      ----------  --------  ----------  ----------

   Retail segment net

    sales                            565,005   484,096   1,833,733   1,724,558

                                      ----------  --------  ----------  ----------



  Wholesale                        23,488    23,982     104,082     110,060

                                      ----------  --------  ----------  ----------



  Total net sales              $588,493  $508,078  $1,937,815  $1,834,618

                            ==========  ========  ==========  ==========

During Fiscal 2010, the Company opened a total of 33 new stores including: 13 Urban Outfitters stores, 16 Anthropologie stores including our first Anthropologie store in Europe, and 4 Free People stores. The Company plans to open approximately 45 new stores during Fiscal 2011. The Company will release fourth quarter and fiscal year financial and operating results on March 4, 2010.

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