US: Urban Outfitters announces record fourth quarter
Lifestyle brand Urban Outfitters has boosted sales for the fourth quarter of the 2005 financial year by 27% to a company record US$319m.
Same store sales for the quarter at Urban Outfitters, Free People and Anthropologie stores went up 13%, 21% and 2%, respectively, compared to the same quarter last year.
Direct-to-consumer sales increased 28% for the quarter, with strong growth at all brands. Free People wholesale sales jumped 110% for the quarter.
Urban Outfitters chairman and president Richard Hayne said: "We are very pleased to report another record breaking quarter which pushed sales for the year above the billion dollar mark for the first time. In addition, response to our Spring offerings is strong across all three brands, with the Free People businesses leading the gains."
Net sales for the year, which ended on 31 January 2006, increased 32% - to US$1.1bn, however, total same store sales increased by 11% over the year, after a 22% increase for 2004.
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