By  on March 12, 2012

Urban Outfitters Inc.’s fourth-quarter profits fell 47.8 percent as the company cut prices to clear slow-moving women’s apparel, but Richard Hayne, who reclaimed the mantle of chief executive officer this year, is plotting a global bounce back.

Net income fell to $39.3 million, or 27 cents a diluted share, from $75.2 million, or 45 cents, a year earlier. Sales for the three months ended Jan. 31 rose 9.3 percent to $730.6 million from $668.4 million.

RELATED STORY: Urban Outfitters Lawsuit Moves Forward>>

Hayne, who co-founded the firm and took it back over when Glen Senk left for David Yurman in January, told analysts on a conference call that the company would open stores in North America and Europe, launch a retail presence in Asia, increase mobile marketing and expand its wholesale distribution in Europe and Asia.

On the consumer, Hayne said: “We offer her things she wants in environments that inspire her. We talk to her and listen to her ideas and opinions. In short, we have a relationship with our customer and that relationship translates into sales.”

Last year, Urban Outfitters’ net income declined 32.1 percent to $185.3 million as sales rose 8.8 percent to $2.47 billion.

The company, which operates 429 Urban Outfitters, Free People and Anthropologie stores, plans to open another 55 to 60 stores this year.

To continue reading this article...

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus