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Urban Outfitters reports strong sales in Q3


Urban Outfitters, Inc, the owner of youth brands Urban Outfitters, Anthropologie, Free People, Terrain and BHLDN, saw total company net sales increase six per cent on last year for the three months ended October 31st, 2011, it was announced today.

Total net sales increased to $610 million (£379.5 million) in the third quarter, but comparable retail segment net sales, including the direct-to-consumer channels, decreased three per cent for the quarter.

Comparable store net sales decreased seven per cent in the period, with comparable retail segment net sales at Free People increasing 14 per cent while remaining flat at Urban Outfitters and decreasing seven per cent at Anthropologie.

Direct-to-consumer comparable net sales rose 15 per cent and wholesale segment net sales rose 13 per cent compared to the same period last year.

The retailer, which operates across North America, Canada and Europe, has also announced a number of new appointments today.

David W. McCreight has been appointed CEO of the Anthropologie Group, effective November 15, 2011. In this new role, Mr. McCreight will be responsible for Anthropologie North America, Anthropologie Europe and BHLDN.

Glen T. Senk, CEO of Urban Outfitters Inc., said that McCreight’s previous retail experience, including his role as Senior Vice President and General Merchandising Manager of Disney Stores from 2001 to 2003, will aid in his upcoming role.

“David is a powerful leader with an intimate knowledge of the women’s apparel industry and a proven track record for growing multi-channel, multi-category brands,” he commented.

“I am delighted to have David join our executive team and am confident he will play an instrumental role in the future development of the Anthropologie group and URBN.”

In other appointment news, Global Co-President of Anthropologie Wendy McDevitt has been appointed President of Terrain.

During the three months ended October 31st, 2011, the company opened seven new Urban Outfitters stores, four new Anthropologie stores, four new Free People stores and one BHLDN store across its global markets as the retailer continues to focus on further expansion.

Published on Tuesday 08 November by Editorial Assistant

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