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Wednesday, February 25, 2009
Anthropologie is doing just peachy, thanks
The economy might be taking a beating but Anthropologie (and Urban Outfitters as a whole) seems to be doing just fine.
First, Kiplingers says that Anthropologie's items are just too unique to pass up:
Then there are those coveted items that shoppers will find a way to buy, recession or no recession. Edgy apparel retailer Urban Outfitters (URBN) is as close as you'll come to a recession-proof clothier. For the fiscal year that ended January 31, the company reported that same-store sales were up 8% over the year before, and revenues were up a whopping 22%, to $1.8 billion.
Smart management and limited store growth have preserved the hip mystique of Urban Outfitters' brands, and the teen-through-thirtysomething customers the stores serve keep coming back. The company offers brand-name clothes, accessories and home furnishings alongside its own private-label items in its three chains: Urban Outfitters, which accounts for 50% of sales; Anthropologie, 40%; and Free People, about 10%. "Urban Outfitters knows how to merchandise really special things," says Driscoll.
Even before I knew that Anthropologie and Urban Outfitters were sister stores, I naturally progressed from Urban into Anthro after college. So yes, I'd say they have the marketing down.
Business Week also says that Urban's family of stores had a great Valentine's Day/President's Day weekend:
Traffic is still spotty but picking up at some retailers so far in February, analysts said Wednesday.
Sales have likely picked up at Urban Outfitter Inc.'s Anthropologie stores, Limited Brands Inc.'s Victoria's Secret and American Apparel Stores Inc., said Todd Slater, an analyst with Lazard Capital markets.
"We heard sales were above plan in several cases," he wrote in a note to clients Wednesday. "Not sure if (its) sustainable, but the sales pickup may have resulted from pent-up demand and the timing of Valentines Day/Presidents Day."
I did notice large crowds at the 5th Ave Anthropologie over that weekend, and people were not just window shopping! Of course NYC is something of an anomaly but I am happy to hear that 2009 is being kind to my favorite store.