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Urban Outfitters

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BUSINESS
March 23, 1994 | By Susan Warner, INQUIRER STAFF WRITER
Urban Outfitters, the Philadelphia clothing and home-design retailer, yesterday reported its first year-end results since it became a public company in November. Chairman Richard Hayne said sales at new stores contributed $3 million to sales gains in the quarter and $11.3 million for the year. The company's merchandise wholesale division contributed $278,000 in the quarter and $5.5 million for the year. Hayne said that while the company expected continued profit and sales growth, it was unlikely to be in the 13 percent to 20 percent range of the last two years.
NEWS
March 13, 2012 | By Maria Panaritis, INQUIRER STAFF WRITER
It was back to the future at Urban Outfitters Inc. on Monday, as founder Richard A. Hayne, chief executive since his predecessor CEO's surprise departure in January, lauded a management team that included another recently returned veteran, Ted Marlow, and pledged to return the retailer to a brighter future. "I have complete confidence in the executive team that's assembled around the table here in Philadelphia," Hayne, whose company has headquarters at the Philadelphia Navy Yard, told investment analysts during his first earnings call as CEO since protege and 18-year veteran Glen T. Senk resigned, rattling markets two months ago. The company reported thinning profits on $2.5 billion in global sales for the year that ended Jan. 31, capping a yearlong odyssey of fashion mistakes at Anthropologie and its namesake Urban Outfitters division that led to costly discounting at both chains.
BUSINESS
March 12, 2013 | By Reid Kanaley, Inquirer Staff Writer
Urban Outfitters Inc., the Philadelphia retailer, said net income for the quarter ended Jan. 31 more than doubled from the same period a year earlier - to $82.5 million, or 56 cents per share. Combined sales at the company's stores - Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters - was up 17 percent, to $856.8 million for the quarter, compared to $730.6 million in the prior-year quarter. While sales at stores open at least a year were flat, the company said comparable sales including online operations increased 11 percent.
BUSINESS
March 15, 2002 | By Jane M. Von Bergen INQUIRER STAFF WRITER
Stock analyst Christina de Marval can crunch Urban Outfitters' financial numbers with the best of them, but she doesn't need her calculator to understand why the Philadelphia retailing company recorded a remarkable fourth-quarter performance. "I bought a sweater and a stuffed cow that stands up on its own," the analyst said. "I thought it was adorable. " Urban Outfitters, which operates 49 Urban Outfitters and 32 Anthropologie stores, reported yesterday that fourth-quarter net income increased by 71 percent.
NEWS
August 26, 2011
Urban Outfitters Inc. said its board approved the repurchase of an additional 10 million shares of the Philadelphia company's common stock. The company said it had completed the buyback of a separate 10 million shares that was authorized last November. As of early June, the retailer had 160 million shares outstanding. The stock closed Friday at $24.77, up 56 cents but down from a high this year of $38.50 in early March. Urban operates stores that sell apparel, accessories and housewares.
BUSINESS
December 16, 2012 | By Maria Panaritis, Inquirer Staff Writer
  The U.S. Labor Department has sanctioned several Los Angeles garment contractors for sweatshop conditions while making wares for Urban Outfitters Inc., Burlington Coat Factory Warehouse Corp., Forever 21 Inc., the company that owns T.J. Maxx and Marshall's (TJX Cos Inc.), and others. In a sweep of a single building in the city's fashion district, Wage and Hour Division investigators found 10 garment contractors had violated minimum wage, overtime and record-keeping laws, such as paying workers less than the federal hourly minimum wage of $7.25, and California's $8 minimum wage, the agency said.
NEWS
May 28, 2011 | By Nancy Phillips, INQUIRER STAFF WRITER
Urban Outfitters has strongly denied allegations, fueled by a Twitter frenzy, that it stole a necklace design from a jewelry artist in Chicago. In a statement issued Saturday, the Philadelphia-based fashion-and-accessories company said it "unequivocally" did not copy the work of jewelry designer Stevie Koerner. Koerner took to her Twitter account midweek to accuse the chain of illegally copying her work. The jewelry designer, who makes silver necklaces in the shape of American states with hearts punched through them, posted pictures of her necklaces alongside photos of strikingly similar ones sold by Urban Outfitters.
BUSINESS
January 11, 2013 | Breaking News Desk
Philadelphia-based Urban Outfitters reported this morning that it had record sales for the 2012 holiday season. The retailer - which owns Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands - said in a press release that total sales tallied $666 million for November and December. That reflects a 15 percent increase over the same period in 2011, the company said. "We are pleased to announce a 15 percent increase in our Holiday sales, driven by strength in all brands," CEO Richard A. Hayne said in the release.
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NEWS
April 29, 2015 | By Justine McDaniel, Inquirer Staff Writer
At a packed meeting Monday night, Devon residents showed a mix of excitement and concern about plans for Devon Yard, the long-stalled proposed Urban Outfitters development in Chester County. At the Easttown Township Planning Commission meeting, David Ziel, Urban Outfitters' chief development officer, announced a partnership between Urban and the Philadelphia restaurateur Marc Vetri. Devon Yard would host two Vetri restaurants, along with a cafe affiliated with Urban's Terrain brand.
BUSINESS
February 18, 2015 | By Joseph N. DiStefano, Inquirer Staff Writer
Urban Outfitters , the South Philly-based group of store chains that mostly sells women's apparel, said Monday it will use the one million-square-foot, 500-worker warehouse it has been building over the last year near Gap, Lancaster County, to replace its 10-year-old "Ecommerce Fulfillment Center" in Trenton, S.C. Urban Outfitters opened the Southern distribution center and moved 200 jobs there from the Philadelphia area 10 years ago. The...
BUSINESS
October 19, 2014 | By Linda Loyd, Inquirer Staff Writer
Urban Outfitters Inc. shares fell as much as 15 percent Friday after the apparel retailer warned investors that third-quarter earnings would be hurt by declining sales. The stock fell to its lowest since July 2012, closing down $4.94, or 14.29 percent, to $29.62. The Philadelphia-based owner of Anthropologie, Free People, and Urban Outfitters stores said in early September that quarterly comparable sales had declined. The sales slump has continued, and the company said in an update Thursday after the market closed that because of lower than expected sales, "its gross profit margin may deleverage for the third quarter at a rate greater than during the first half of the year.
BUSINESS
May 25, 2014 | By Chris Hepp, Inquirer Staff Writer
With the flagship listing, it is all hands on deck over at Urban Outfitters Inc. Even the boss' wife has joined the bucket brigade. How bad are things? Well, the iconic purveyor of hip just completed its fifth straight quarter of slipping sales. For the record, that's Urban Outfitters, the brand. The overarching company of the same name - No. 20 on the Philly50 - saw sales up, thanks to Anthropologie and Free People, the firm's other major brands. Still, that success hardly ameliorates the disappointment in the missteps of the company's firstborn.
BUSINESS
May 22, 2014 | By Chris Hepp, Inquirer Staff Writer
Urban Outfitters Inc. continues to struggle to right its signature brand, whose poor first-quarter performance held back the company's broader success. Sales for the brand, Urban Outfitters, fell 5.2 percent from the same quarter in 2013, to $277.7 million. "Lower merchandise margins at the Urban Outfitters brand resulting from poor-performing product contributed to the decline," the company said. Urban was eclipsed in total sales by stablemate Anthropologie Group. Anthropologie, which targets women 28 to 45 years of age with a mix of casual wear, home furnishings, and gifts, reported a 10.3 percent increase in sales to $295.8 million.
BUSINESS
January 11, 2014 | By Maria Panaritis, Inquirer Staff Writer
Urban Outfitters Inc. is hurtling toward $3 billion in annual revenues as the fast-growing Philadelphia retailer posted record sales over the holidays, despite continued difficulties at its namesake brand, according to financial disclosures Thursday. Net sales increased 8 percent to $716 million in November and December compared with the same period a year earlier, said the company, whose popular brands include Anthropologie, Free People, Terrain, BHLDN, and Urban Outfitters. Comparable Internet, catalog and store sales, however, which measure the health of a retailer by cutting out new-store numbers, were up only 3 percent, the result partly of a 6 percent drop in revenue at the namesake brand, which has been struggling for some time against stronger performance by its sister brands.
NEWS
November 5, 2013 | By Maria Panaritis, Inquirer Staff Writer
They are rising in farm country west of King of Prussia like giant garrisons positioned to deploy packages to shoppers up and down the Atlantic Coast: automated warehouses of herculean proportions aimed at moving online orders to people's doorsteps in just hours. Philadelphia's Urban Outfitters Inc. is among a rush of titanic store-based retailers spending staggering sums to open online fulfillment centers closer than ever to customers, in a red-hot patch of Pennsylvania along the state's toll-free I-81 spine.
NEWS
October 9, 2013 | By Chris Hepp, Inquirer Staff Writer
Urban Outfitters, the iconic purveyor of hip clothing and housewares, doubled down on the city and state Monday, announcing that it was expanding its Philadelphia headquarters and adding a distribution center in Lancaster County. The expansion will ultimately mean an additional 2,000 jobs in the city and 500 in Gap, according to Richard Hayne, Urban Outfitters' founder and chief executive officer, who spoke at a news conference at the Marriott Hotel in Center City. The firm said it was investing $210 million in the projects, which include refurbishing a 250,000-square-foot structure at the Navy Yard and constructing a 1.2 million-square-foot distribution center in Salisbury Township, Lancaster County.
NEWS
October 5, 2013 | By Tricia L. Nadolny, Inquirer Staff Writer
DEVON The president of the Devon Horse Show and his business partner want to build a hotel and retail center beside the fairgrounds property, a project that could offer Devon its first taste of a town center. Wade McDevitt and partner Eli Kahn presented preliminary plans Tuesday to Easttown Township officials. They said Urban Outfitters has expressed interest in developing a 93-room boutique hotel and 100,000-square-foot retail center there, including an Anthropologie store and two restaurants.
BUSINESS
September 23, 2013 | By Chris Hepp, Inquirer Staff Writer
From the time he opened his first retail shop - Free People, filled with secondhand and vintage clothes, scented candles, and inexpensive jewelry - more than 40 years ago, Richard Hayne has cut across the grain. That first "hippie store" just outside the University of Pennsylvania campus morphed into Urban Outfitters, the store, soon the chain, and finally the empire, with a collection of brands - Urban Outfitters, Anthropologie, Free People, Terrain, and BHLDN. It left Hayne a very wealthy man, and one not shy to preach, in his own fashion, the gospel of entrepreneurship.
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