Urban Outfitters key sales figure rises in 3Q

Urban Outfitters key sales figure climbs in 3rd quarter on higher direct-to-consumer sales

• On 7:01 am EST, Thursday November 5, 2009

PHILADELPHIA (AP) -- Urban Outfitters Inc. said Thursday that a key sales figure rose 2 percent in the third quarter on a surge in direct-to-consumer sales.

The apparel retailer said it was confident heading into the holiday season due to improving sales and weaker comparisons for the fourth quarter.

Urban Outfitters reported comparable retail net sales, which includes direct-to-consumer channels, climbed during the quarter, with sales at Anthropologie stores open at least a year up 3 percent. Sales for Free People stores open at least a year slid 13 percent, while those at its namesake stores fell 5 percent.

Sales at stores open at least a year are a key indicator of retailer performance since they measure growth at existing stores rather than newly opened ones.

Direct-to-consumer sales soared 21 percent in the quarter, while wholesale net sales dropped 10 percent.

Total net sales for stores open at least a year dipped 2 percent.

Urban Outfitters had 151 of its namesake stores in the U.S., Canada, and Europe; 133 Anthropologie stores in the U.S. and Europe; Free People Wholesale, which sells its product to about 1,400 specialty stores and some department stores; 34 Free People stores and one Terrain garden center as of Oct. 31.

The company is scheduled to report third-quarter earnings results on Nov. 12.

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