Urban Outfitters, Inc. announced total Company comparable store sales for the quarter ended April 30, 2003 rose 2 percent on top of an 18 percent increase in last year’s first quarter. “Comp” store sales at Urban Outfitters gained 5% versus an increase of 12% last year, while “comps” at Anthropologie decreased by 2% compared to a 27% increase in the prior year. Overall Company sales for the quarter were up 14% to a record $107.0 million.
Direct-to-consumer revenues jumped 35% versus the prior year, with strong growth at both Urban and Anthropologie Direct.
“Given our strong sales performance last year combined with unseasonably cold weather on the East Coast this year, were very pleased with this quarter’s comp store sales performance,” said Mr. Hayne. “We have seen sales momentum build during the quarter and the month of April, and are encouraged by the positive customer response to our current apparel offerings at both retail brands.”
Net sales for the three months were as follows:
Three months ended April 30, 2003 2002 -------- -------- (in thousands) Urban Outfitters store sales $52,109 $45,788 Anthropologie store sales 40,954 36,615 Direct-to-consumer sales 9,527 7,082 Free People sales 4,438 4,589 -------- -------- Total net sales $107,028 $94,074 ======== ========
Management expects the actual results for the period ended April 30, 2003 to be released on May 15, 2003.
Urban Outfitters, Inc. is an innovative specialty retailer and wholesaler which offers a variety of lifestyle merchandise to highly defined customer niches through 54 Urban Outfitters stores in the United States, Canada, and Europe; an Urban Outfitters web site and catalog; 40 Anthropologie stores in the United States; an Anthropologie catalog and web site; and Free People, the Company’s wholesale division, which sells its product to approximately 1,100 specialty stores, department stores and catalogs, as well as through one Free People store.
The wholesale division sells its products under two labels: Free People and bdg.