Urban Outfitters sales rise 25% in Q1

Tuesday, May 11, 2010

Holy moly. The retail sector is rebounding and Urban Outfitters is reaping the benefits. The company just released its Q1 earnings report and sales were up an astounding 25%. Specifically the percentages broke down like this: Anthropologie - up 22% across 142 stores, Free People - up 25% (!) across 35 stores, Terrain - up 22% from its sole location and Urban Outfitters - up 9% across 157 stores.

Even more jaw-dropping? Direct-to-consumer sales were up 42%. Bring back Free Shipping -- stat!! Your direct numbers go up when you run the promotion, Urban. The performance exceeded analyst expectations by a couple of percentage points. It was a record quarter for the company and I'm sure expectations will be high for Q2.

The company opened 5 new Anthropologies during the quarter and remains on-track towards its domestic goal of around 200 stores. Urban Outfitters also announced plans to repurchase up to 8,000,000 common shares. That's evidence of great cash flow. I'm thoroughly impressed. All this in the company's first quarter in the NASDAQ index.

More info:
Urban Outfitters Reports Q1 Sales Jump 25% (MarketWatch)
Urban Outfitters sales up 25% in 1Q (Philadelphia Business Journal)
Urban Outfitters Stock Repurchase Update (MarketWatch)