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In Brief: Urban’s Billion … Neimark’s New Gig

A brief look at some of the day's stories.

URBAN’S BILLION: Urban Outfitters Inc. said Tuesday that it surpassed the $1 billion mark in total sales for the year ended Jan. 31. In a preliminary sales report, the retailer’s total sales for the fourth quarter jumped 27 percent to $319 million from $252 million in the prior period, while sales for the year soared 32 percent to $1.1 billion from $828 million in the prior year. Urban said total comparable-store sales for the quarter showed an 8 percent gain. Comps at Urban Outfitters, Free People and Anthropologie showed gains of 13, 21 and 2 percent, respectively. “We are very pleased to report another record-breaking quarter, which pushed sales for the year above the billion-dollar mark for the first time,” said Richard A. Hayne, chairman and president. “In addition, response to our spring offerings is strong across all three brands, with the Free People businesses leading the gains.”

NEIMARK’S NEW GIG: Ira Neimark, best known for his stewardship of Bergdorf Goodman from 1975 to 1992 as chairman and chief executive officer, has joined Seiden Krieger Associates, an executive search firm, as a retail adviser. He will help Seiden Krieger identify and evaluate prospective candidates for the firm’s clients in retailing, fashion, apparel and textiles. Neimark is also a director at Hermès and the Fashion Institute of Technology Foundation. He formerly served as an adviser to Mitsukoshi in Tokyo and was an adjunct professor of retail marketing at Columbia Business School, as well.