Urban Outfitters Christmas sales up to USD577 million

A new Post "Urban Outfitters Christmas sales up to USD577 million" was written on the January 6, 2012 at 8:04 pm on "Textile Global - Textile and Fashion News".

Urban Outfitters set a landmark on Thursday when it announced record
net sales for the Christmas holiday period. During the two months
ended last December 31, 2011, total company net sales for the two
months increased to $577

million or a 11%. "We are pleased to announce an 11% increase in our
holiday sales," said Glen T. Senk, Chief Executive Officer. "The
highly promotional environment coupled with our goal to reduce our
overall inventory levels by the end of the fourth quarter led to more
promotional offerings than originally anticipated." continued Mr.
Senk.

Urban Outfitters, Inc. (Nasdaq:URBN), a lifestyle speciality retail
company operating under the Anthropologie, Free People, BHLDN, Terrain
and Urban Outfitters brands, reported total net sales for the two
months increased to $577 million or 11% over the same period last
year.

Comparable retail segment net sales, which include direct-to-consumer
channels, increased 4% while comparable store net sales were flat.
Comparable retail segment net sales increased 3% at Urban Outfitters
and Anthropologie and 9% at Free People. Direct-to-consumer comparable
net sales jumped 17% for the period with all brands posting double
digit growth. Wholesale segment net sales were down 1%.

For the 11-month period ended December 31, 2011, total Company net
sales increased to $2.3 billion or 9% over the same period last year.
Comparable retail segment net sales were flat while comparable store
net sales decreased 4%. Direct-to-consumer comparable net sales rose
15% for the period and wholesale segment net sales increased 11%.

During the 11 months ended December 31, 2011, the Company opened a
total of 50 new stores including: 18 new Urban Outfitters stores, 13
new Anthropologie stores, and 18 new Free People stores and 1 BHLDN
store. The Company will release fourth quarter and fiscal year 2012
sales results on February 9, 2012.

Despite the record sales, Urban Outfitters' stock had its
"underperform" rating reaffirmed by equities research analysts at
Zacks Investment Research in a research note issued to investors on
Thursday. The analysts currently have a $26.00 price target on the
stock.

Separately, analysts at FBR Capital set a $32.00 price target on
shares of Urban Outfitters in a research note to investors on Tuesday,
December 20th. Analysts at Collins Stewart initiated coverage on
shares of Urban Outfitters in a research note to investors on Tuesday,
December 20th. They set a "neutral" rating and a $28.00 price target
on the stock. Also, analysts at Sterne Agee reiterated a "neutral"
rating on shares of Urban Outfitters in a research note to investors
on Wednesday, December 14th.

Read the original:
Urban Outfitters Christmas sales up to USD577 million

http://www.textileglobal.com/2012/01/urban-outfitters-christmas-sales-up-to-usd577-million.html

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