Urban Outfitters, Inc. announced sales for the three months ended April 30, 2005. Total company sales for the first quarter jumped 36% over the same period last year to a record $231.3 million. The following factors drove this increase:
-- An 11% increase in total company comparable store sales
-- A 29% increase in the number of stores in operation resulting
in new and noncomparable store sales increases of
$30.8 million
-- A 54% gain in direct-to-consumer sales; and
-- A 69% jump in Free People wholesale sales
The total company comparable store sales increase of 11% during the first quarter anniversaries a 32% 'comp' increase during the same period last year. 'Comp' store sales at the Anthropologie, Free People and Urban Outfitters brands increased by 9%, 45% and 13% respectively.
“The bar was high and our merchants did a terrific job of increasing productivity in existing stores,'' said Richard A. Hayne, chairman and president. “It's very gratifying to deliver the eighth consecutive quarter of double-digit 'comp' store sales growth. The Direct and Wholesale businesses continue to provide strong growth and all major merchandise categories delivered year-over-year gains. These trends bode well for summer business,'' Mr. Hayne added.
Net sales for the three months were as follows:
Three months ended
April 30,
2005 2004
---- ----
(in thousands)
Urban Outfitters store sales $ 104,109 $ 78,566
Anthropologie store sales 87,307 66,574
Direct-to-consumer sales 28,722 18,601
Free People sales 11,187 6,549
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Total net sales $ 231,325 $ 170,290
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