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)
Whoa, those numbers are nuts! I bet CEO has his "I heart Roxy" poster up on an altar now. 😉
I agree with Tien, I know their sales to me are largely attributed to the reviews, sale updates, etc of you and the other bloggers. Those numbers are mighty impressive…although I guess my numbers re: Anthro purchases in the first quarter of this year are pretty impressive too. 🙂
What's amazing to me, though, is what has happened to the stock price — despite the incredible numbers.
Any ideas on where they plan to open new stores?
I hope that they have New England in mind for some of those 200 stores… right now, the only states with Anthro stores are MA (in Boston and its suburbs) and CT (near NYC). I'd love to see an Anthro store in ME, NH, VT or RI.
You're welcome, Anthropologie. It wasn't easy, my bank account will tell you, but we did it.I kid, but you are so right about the shipping promotion. It is a lot easier to buy shoes & such sight unseen when you get free shipping!
This gives me some great hope that the economy is indeed improving. As an unemployed job seeker – I love seeing things like this – hopefully it will mean good things for myself and all those unemployed!I hope Anthro looks at this and realizes, they should always have free shipping for Anthro card holders. I rarely order online without free shipping!
I felt that they strategically offered Free Shipping during the last month of the quarter to give their quarter a little last minute earnings boost.
if anyone is interested, the aniseed skirt got restocked online (sizes 0,4,6,8)
yes i agree Roxy, free shipping should be brought back. thats a strong incentive to buy. 🙂
Tien – LOL! I love idea of Anthro with an I ♥ roxy poster. Collect all the Anthro bloggers!JenniferK – I agree, I think the blogs play a role that is difficult to quantify (though I could start with my exit links…). It also doesn't hurt that Anthro's 2010 collections has been one of its best in years. I know there is room for more great dresses but this year top to bottom has been the best spring I can remember.Kathleen – it does seem like every time Urban Outfitters releases results their stock goes down that day. They've been slowly inching up since this news came out though…Kristen – Here's my secret tip: I go to indeed.com and search for Anthropologie jobs. They usually show up about a month before a store opens. I do not get advance warning though, except for the NYC locations. I have tipsters to help me out here. :)Lola – Amen! And Anthropologie. Seriously. Danbury Fair Mall. PLEASE. DO IT.Katie – OK, I was rolling when I read this one at the office. You are too funny!Kim – agreed, they need to have more perks on the card! Can we also have no shipping charge-sends for anthro members while we're at it please? Betty – if so, excellent strategy on their part. I am crossing my fingers for another one soon. I need to order stuff for Mexico.Natalye – thanks for the heads up! 🙂
Yes, 25% is incredible!OT – congrats on 1,001 followers, Roxy!! We're so grateful to have you host this great resource and foster such a lovely community 🙂
I for one, had not shopped at Anthro for over a year while I braced myself for a possible layoff and saved for my big move from Florida to Seattle. Once it all came together, job and apartmnt secured, I rewarded myself greatly with several purchases at my favorite chain store. I wonder how many other ladies have done something similar, rewarding themselves now that it seams the coast is clearer.
Amen!!! I am hugely responsible for Anthropologie's 25%. I am just obsessed with this company and the clothes. I think I need an therapist. I have a car payment sized budget for Anthro alone. I schedule work around my Tuesday stop by and see the sales, return clothes and plot for the next sale. At night I play find the Anthro in 2 minutes. Here is how it goes (I think it could work as a drinking game as well): Watch your favorite shows as normal, when you see an Anthro item, pause and find it online and prove to your husband that the cute top on TV is indeed from your favorite store/site. I have found stuff on commercials (arm and a leg gal), How I Met Your Mother (every week), Private Practice, and many, many more. Anyway, congratulations Urban Outfitters for building such a strong, and inspiring empire. I must buy stock!!!!
Wow, wish I'd bought some stock a year ago…