Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHILADELPHIA-Urban Outfitters will continue to grow with a measured pace this year, with the company still on track to debut a fourth concept next year, executives said at its first quarter conference call.

The company plans to open at least 38 new stores during fiscal year 2008, with 15 or 16 each in the Urban Outfitters or Anthropologie format and six to eight Free People units. The company already has opened four new Urban Outfitters stores and two new Anthropologie stores in the first quarter. Store expansion is a critical component in the company’s growth, said Richard A. Hayne, chairman and president.

“We continue to believe we can have 600 stores domestically and at least another 200 stores overseas,” Hayne said.

Urban Outfitters operates 110 Urban Retail stores in the United States, Canada, and Europe; two Urban Outfitters web sites and an Urban catalog; 95 Anthropologie stores an Anthropologie catalog and web site; and eight Free People units. An announcement regarding its new brand, called Concept 4, will be made in the third quarter, with stores opening next year.

Total sales for the first quarter increased 16% over the previous year to a record $314.5 million. Overall comparable store sales decreased 2%. Comparable store sales at Anthropologie and Free People were up 2% and 8%, respectively and down 5% at Urban Outfitters stores. The company reported record earnings for the quarter of $29.4 million, up 45% from the previous year.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.