Exhibit 99.1

URBAN OUTFITTERS, INC.

Fourth Quarter and Annual Results

Philadelphia, PA – March 7, 2011

 

For Immediate Release      Contact:    Oona McCullough
        Director of Investor Relations
        (215) 454-4806

Urban Outfitters Reports Record 4th Quarter Operating Profit

PHILADELPHIA, March 7, 2011 (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 earnings of $75 million and $273 million for the fourth quarter and year ended January 31, 2011, respectively. Earnings per diluted share were $0.45 for the quarter and $1.60 for the year.

Total Company net sales rose by 14% over the same quarter last year to $668 million. Comparable retail segment net sales, which include our direct-to-consumer channels, improved 4% for the quarter while comparable store net sales decreased 2% for the quarter. Comparable retail segment net sales at Anthropologie, Free People and Urban Outfitters increased 1%, 28%, and 5%, respectively for the quarter. Direct-to-consumer comparable net sales soared 28% and wholesale segment net sales rose 31% for the quarter.

“I am pleased to announce record sales and operating profits for the quarter, as well as our second highest operating margin rate for the fourth quarter and year,” said Glen T. Senk, Chief Executive Officer. “It was another year of strong performance as we delivered 17% sales growth, 22% operating income growth, and executed our long standing goal of growing profits faster than sales,” finished Mr. Senk.

Net sales by brand and channel for the three and twelve months were as follows:

 

     Three Months Ended
January 31
     Twelve Months Ended
January 31
 
     2011      2010      2011      2010  

Net sales by brand

           

Urban Outfitters

   $ 321,772       $ 284,068       $ 1,041,502       $ 917,223   

Anthropologie

     283,418         257,759         1,011,999         842,374   

Free People

     58,941         43,589         202,493         163,634   

Other

     4,259         3,077         18,108         14,584   
                                   

Total Company

   $ 668,390       $ 588,493       $ 2,274,102       $ 1,937,815   
                                   

Net sales by channel

           

Retail Stores

   $ 492,381       $ 452,774       $ 1,720,002       $ 1,509,994   

Direct-to-consumer

     145,282         112,231         433,790         323,739   
                                   

Retail Segment

     637,663         565,005         2,153,792         1,833,733   
                                   

Wholesale Segment

     30,727         23,488         120,310         104,082   
                                   

Total Company

   $ 668,390       $ 588,493       $ 2,274,102       $ 1,937,815   
                                   

For the fourth quarter ended January 31, 2011, gross profit margin percentage declined by 208 basis points versus the prior year’s comparable period. This decrease was primarily due to increased merchandise markdowns to clear seasonal inventory associated with changing women’s apparel fashion trends, along with higher shipping costs associated with increased penetration of international direct-to-consumer business.


The following information was filed by Urban Outfitters Inc (URBN) on Thursday, March 10, 2011 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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