Exhibit 99.1

URBAN OUTFITTERS, INC.

Fourth Quarter and Annual Results

Philadelphia, PA – March 4, 2010

 

For Immediate Release      Contact:    John Kyees
        Chief Investor Relations Officer
        (215) 454-5500

Urban Outfitters Reports Q4 Earnings Jump 92%

PHILADELPHIA, March 4, 2010 (GLOBENEWSWIRE)—Urban Outfitters, Inc. (NASDAQ:URBN), a leading lifestyle specialty retail company operating under the Anthropologie, Free People, Leifsdottir, Terrain and Urban Outfitters brands, today announced record earnings of $78 million and $220 million for the fourth quarter and year ended January 31, 2010, respectively. Earnings per diluted share were $0.45 for the quarter and $1.28 for the year.

As stated in the Company’s previous sales release on February 4, 2010, total Company sales for the fourth quarter reached a record $589 million, an increase of 16% over the comparable quarter last year. Comparable retail segment sales, which include our direct-to-consumer channels, increased 9% for the quarter. Comparable store sales rose 10% and 11% at Anthropologie and Free People, respectively and were flat at Urban Outfitters, for a combined comparable store sales increase of 4%. Direct-to-consumer sales surged 28% reflecting strong growth across all brands and wholesale sales continued to improve as compared to previous quarterly trends, down 2% versus the same quarter last year. Total Company net sales for the year ended January 31, 2010 increased 6%, to a record $1.9 billion.

“We are delighted to announce a series of record-breaking results for the quarter and year, including quarterly earnings growth of 92% and a quarterly operating profit of 20%” said Glen T. Senk, Chief Executive Officer. “The sales and profit trend improved in each quarter throughout 2009, and our current February ‘comp’ sales performance exceeded our fourth quarter ‘comp’. Our team continued to exhibit exceptional discipline in managing expenses while simultaneously making strategic investments in design, the supply chain, technology, International, Direct-to-consumer and our newest businesses, Terrain and Leifsdottir,” continued Mr. Senk.

Net sales for the periods were as follows:

 

     Three months ended
January 31,
   Twelve months ended
January 31,
     2010    2009    2010    2009
     (in thousands)    (in thousands)

Urban Outfitters stores

   $ 227,858    $ 213,435    $ 760,133    $ 771,362

Anthropologie stores

     211,740      172,098      704,849      642,161

Free People stores

     11,738      9,588      38,752      32,907

Terrain

     1,438      1,165      6,260      5,656
                           

Store net sales

     452,774      396,286      1,509,994      1,452,086
                           

Direct-to-consumer

     112,231      87,810      323,739      272,472
                           

Retail segment net sales

     565,005      484,096      1,833,733      1,724,558
                           

Wholesale

     23,488      23,982      104,082      110,060
                           

Total net sales

   $ 588,493    $ 508,078    $ 1,937,815    $ 1,834,618
                           


The following information was filed by Urban Outfitters Inc (URBN) on Thursday, March 4, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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