{"id":387131,"date":"2020-11-23T16:08:12","date_gmt":"2020-11-23T21:08:12","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=387131"},"modified":"2020-11-23T16:08:12","modified_gmt":"2020-11-23T21:08:12","slug":"urbn-profits-jump-38-and-produce-record-q3-eps","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/urbn-profits-jump-38-and-produce-record-q3-eps\/","title":{"rendered":"URBN Profits Jump 38% and Produce Record Q3 EPS"},"content":{"rendered":"
\n

PHILADELPHIA, Nov. 23, 2020 (GLOBE NEWSWIRE) — Urban Outfitters, Inc. (NASDAQ:URBN), a leading lifestyle products and services company which operates a portfolio of global consumer brands comprised of the Anthropologie, BHLDN, Free People, FP Movement, Terrain, Urban Outfitters, Nuuly and Menus & Venues brands, today announced net income of $77 million and record earnings per diluted share of $0.78 for the three months ended October 31, 2020. For the nine months ended October 31, 2020, net loss was $27 million and loss per diluted share was $0.28.<\/p>\n

Total Company net sales for the three months ended October 31, 2020, decreased 1.8% over the same period last year to $970 million. Comparable Retail segment net sales were flat as a result of negative retail store sales driven by lower store productivity due to reduced store traffic, offset by strong double-digit growth in the digital channel. By brand, comparable Retail segment net sales increased 17% at Free People and 4% at\u00a0Urban Outfitters and decreased 9% at the\u00a0Anthropologie Group. Wholesale segment net sales decreased 24%.<\/p>\n

\u201cI am pleased to announce URBN delivered record Q3 earnings per share in spite of an incredibly difficult operating environment,\u201d said Richard A. Hayne, Chief Executive Officer. \u201cOur 38% increase in net profits was driven by strong product assortments combined with tight control of inventory and expenses,\u201d finished Mr.\u00a0Hayne.<\/p>\n

Net sales by brand and segment for the three and nine-month periods were as follows:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Nine Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n October 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n October 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Net sales by brand<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Urban Outfitters<\/td>\n$<\/td>\n394,050<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n374,459<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n955,259<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1,046,310<\/td>\n\u00a0<\/td>\n<\/tr>\n
Anthropologie Group<\/td>\n\u00a0<\/td>\n358,482<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n398,709<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n887,683<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,147,977<\/td>\n\u00a0<\/td>\n<\/tr>\n
Free People<\/td>\n\u00a0<\/td>\n206,669<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n205,475<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n492,352<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n597,606<\/td>\n\u00a0<\/td>\n<\/tr>\n
Menus & Venues<\/td>\n\u00a0<\/td>\n3,664<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,794<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,378<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20,286<\/td>\n\u00a0<\/td>\n<\/tr>\n
Nuuly<\/td>\n\u00a0<\/td>\n6,742<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,032<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17,684<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,032<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total Company<\/td>\n$<\/td>\n969,607<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n987,469<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,361,356<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,814,211<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n Net sales by segment<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Retail Segment<\/td>\n$<\/td>\n895,608<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n897,130<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,214,311<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,558,386<\/td>\n\u00a0<\/td>\n<\/tr>\n
Wholesale Segment<\/td>\n\u00a0<\/td>\n67,257<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n88,307<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n129,361<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n253,793<\/td>\n\u00a0<\/td>\n<\/tr>\n
Subscription Segment<\/td>\n\u00a0<\/td>\n6,742<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,032<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17,684<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,032<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total Company<\/td>\n$<\/td>\n969,607<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n987,469<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,361,356<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,814,211<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

For the three months ended October 31, 2020, the gross profit rate increased by 79 basis points versus the prior year\u2019s comparable period. Gross profit dollars increased 0.6% to $322.9 million from $321.1 million. The increase in gross profit rate was due in part to record low merchandise markdowns in the Retail segment. The record low Retail segment markdown rate was driven by improvement at all three brands with the Urban Outfitters and Free People brands recording significant improvement. The Wholesale segment also delivered healthy improvement in merchandise margins due to lower discounts and allowances. Additionally, gross profit improved as a result of the benefits associated with negotiated rent concessions with landlords and European government assistance programs. These were partially offset by an increase in delivery and logistics expense primarily due to the penetration of the digital channel.<\/p>\n

For the nine months ended October 31, 2020, the gross profit rate decreased to 24.3% from 32.2% in the prior year\u2019s comparable period. The decrease in the gross profit rate was primarily driven by an increase in delivery and logistics expense primarily due to penetration of the digital channel, followed by store occupancy expense rate deleverage. The deleverage in store occupancy expense was due to lower sales as a result of mandated store closures as well as lower store traffic due to the COVID-19 pandemic. Additionally, during the nine months ended October 31, 2020, the Company recorded a $15.9 million year-over-year increase in inventory obsolescence reserves and a $14.5 million store impairment charge.<\/p>\n

As of October 31, 2020, total inventory decreased by $42.3 million, or 8.0%, on a year-over-year basis. The decrease in total inventory was primarily due to an 11% decrease in comparable Retail segment inventory at cost.<\/p>\n

For the three months ended October 31, 2020, selling, general and administrative expenses decreased by $21.4 million, or 8.7%, compared to the prior year\u2019s comparable period and expressed as a percentage of net sales, leveraged by 175 basis points. The leverage and decrease in selling, general and administrative expenses for the three months ended October 31, 2020, was primarily related to disciplined store payroll management and overall expense control measures. Digital marketing expenses grew during the quarter to support strong digital channel sales and customer growth.<\/p>\n

For the nine months ended October 31, 2020, selling, general and administrative expenses decreased by $109.1 million, or 15.3%, compared to the prior year\u2019s comparable period and expressed as a percentage of net sales, deleveraged by 24 basis points. The deleverage was primarily driven by an increase in digital marketing and other expenses in order to support strong digital channel sales and customer growth partially offset by disciplined store payroll management and other expense control measures. The decrease in selling, general and administrative expenses for the nine months ended October 31, 2020, was primarily due to disciplined store payroll management, overall expense control measures and the benefit of COVID-19 related government relief packages.<\/p>\n

The Company\u2019s effective tax rate for the three months ended October 31, 2020, was 21.4% compared to 26.6% in the prior year period. The Company\u2019s effective tax rate for the nine months ended October 31, 2020, was a benefit of 14.8% compared to an expense of 25.8% in the prior year period. The change in the effective tax rate for the three and nine months ended October 31, 2020, was primarily driven by the year-to-date operating loss compared to operating income in the prior year period.<\/p>\n

Net income for the three months ended October 31, 2020, was $77 million and earnings per diluted share was $0.78. Net loss for the nine months ended October 31, 2020, was $27 million and loss per diluted share was $0.28.<\/p>\n

During the three months ended October 31, 2020, the Company repaid the remaining $120.0 million outstanding on its Amended Credit Facility. The Company had borrowed $220.0 million during the three months ended April 30, 2020, in order to preserve financial flexibility and maintain liquidity and flexibility in response to the coronavirus pandemic and had already repaid $100.0 million during the three months ended July 31, 2020.<\/p>\n

On August 22, 2017, the Company\u2019s Board of Directors authorized the repurchase of 20 million common shares under a share repurchase program. The Company did not repurchase any shares during the third quarter, while during the nine months ended October 31, 2020, the Company repurchased and subsequently retired 0.5 million common shares for approximately $7 million under this program. These shares were repurchased prior to the known spread of the coronavirus pandemic in the United States that forced the Company to close its stores for an extended period of time. During the year ended January 31, 2020, the Company repurchased and subsequently retired 8.1 million common shares for approximately $217 million under this program. On June 4, 2019, the Company\u2019s Board of Directors authorized the repurchase of 20 million common shares under a new share repurchase program. As of October 31, 2020, 25.9 million common shares were remaining under the programs.<\/p>\n

During the nine months ended\u00a0October 31, 2020, the Company opened a total of twelve new retail locations including: six Urban Outfitters\u00a0stores, three Anthropologie Group\u00a0stores and three Free People stores (including one FP Movement store); and closed five retail locations including: four Urban Outfitters\u00a0stores and one Free People store. During the nine months ended\u00a0October 31, 2020, four Urban Outfitters franchisee-owned stores and one Free People franchisee-owned store were closed.<\/p>\n

Urban Outfitters, Inc., offers lifestyle-oriented general merchandise and consumer products and services through a portfolio of global consumer brands comprised of 250\u00a0Urban Outfitters\u00a0stores in\u00a0the United States,\u00a0Canada\u00a0and\u00a0Europe\u00a0and websites; 234\u00a0Anthropologie Group\u00a0stores in\u00a0the United States,\u00a0Canada\u00a0and\u00a0Europe, catalogs and websites; 146 Free People stores in\u00a0the United States,\u00a0Canada\u00a0and\u00a0Europe, catalogs and websites, 11 Menus & Venues restaurants, 1\u00a0Urban Outfitters\u00a0franchisee-owned store and 1\u00a0Anthropologie Group\u00a0franchisee-owned store, as of\u00a0October 31, 2020. Free People and\u00a0Urban Outfitters\u00a0wholesale sell their products through approximately 2,300 department and specialty stores worldwide, digital businesses and the Company\u2019s Retail segment.<\/p>\n

A conference call will be held today to discuss third quarter results and will be webcast at 5:00 pm. ET at: https:\/\/edge.media-server.com\/mmc\/p\/usdcoxym<\/a><\/p>\n

\n This news release is being made pursuant to the \u201csafe harbor\u201d provisions of the Private Securities Litigation Reform Act of 1995.<\/strong>
\n Certain matters contained in this release may contain forward-looking statements. When used in this release, the words \u201cproject,\u201d \u201cbelieve,\u201d \u201cplan,\u201d \u201cwill,\u201d \u201canticipate,\u201d \u201cexpect\u201d and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. <\/em>
\n Any one, or all, of the following factors could cause actual financial results to differ materially from those financial results mentioned in the forward-looking statements: the impacts of <\/em>
\n public health crises such as <\/em>
\n the coronavirus (COVID-19) pandemic, the difficulty in predicting and responding to shifts in fashion trends, changes in the level of competitive pricing and promotional activity and other industry factors, overall economic and market conditions and worldwide political events and the resultant impact on consumer spending patterns,\u00a0the effects of the implementation of the\u00a0United Kingdom’s\u00a0withdrawal from membership in the\u00a0European Union\u00a0(commonly referred to as \u201cBrexit\u201d), including currency fluctuations, economic conditions and legal or regulatory changes, any effects of war, terrorism and civil unrest, natural disasters, severe or unseasonable weather conditions or public health crises, increases in labor costs, increases in raw material costs, availability of suitable retail space for expansion, timing of store openings, risks associated with international expansion, seasonal fluctuations in gross sales, the departure of one or more key senior executives, import risks, changes to\u00a0U.S.\u00a0and foreign trade policies, including the enactment of tariffs, border adjustment taxes or increases in duties or quotas, the closing or disruption of, or any damage to, any of our distribution centers, our ability to protect our intellectual property rights, risks associated with digital sales, our ability to maintain and expand our digital sales channels, response to new store concepts, our ability to integrate acquisitions, any material disruptions or security breaches with respect to our technology systems, failure of our manufacturers and third-party vendors to comply with our social compliance program, changes in our effective income tax rate (including the uncertainties associated with the\u00a0U.S.\u00a0Tax Cuts and Jobs Act), changes in accounting standards and subjective assumptions, regulatory changes and legal matters and other risks\u00a0<\/em>
\n identified in our filings with the\u00a0Securities and Exchange Commission. The Company disclaims any intent or obligation to update forward-looking statements even if experience or future changes make it clear that actual results may differ materially from any projected results expressed or implied therein.<\/em>\n <\/p>\n

(Tables follow)<\/p>\n

\n \n <\/p>\n

\n URBAN OUTFITTERS, INC.<\/strong>
\n
\n Condensed Consolidated Statements of <\/strong>
\n Operations<\/strong>
\n
\n (amounts in thousands, except share and per share data)<\/em>
\n
\n (unaudited)<\/em>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Three Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n Nine Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n October 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n October 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net sales<\/td>\n$<\/td>\n969,607<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n987,469<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,361,356<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n2,814,211<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of sales (excluding store impairment)<\/td>\n\u00a0<\/td>\n646,666<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n666,367<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,774,006<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,908,178<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Store impairment<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n14,528<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross profit<\/td>\n\u00a0<\/td>\n322,941<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n321,102<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n572,822<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n906,033<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Selling, general and administrative expenses<\/td>\n\u00a0<\/td>\n224,433<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n245,833<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n603,630<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n712,683<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income (loss) from operations<\/td>\n\u00a0<\/td>\n98,508<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75,269<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(30,808<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n193,350<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other (loss) income, net<\/td>\n\u00a0<\/td>\n(890<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n576<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(1,261<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,754<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income (loss) before income taxes<\/td>\n\u00a0<\/td>\n97,618<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75,845<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(32,069<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n200,104<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax expense (benefit)<\/td>\n\u00a0<\/td>\n20,914<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n20,193<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(4,731<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n51,547<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss)<\/td>\n$<\/td>\n76,704<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n55,652<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(27,338<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n148,557<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss) per common share:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n$<\/td>\n0.78<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.57<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.28<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.48<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted<\/td>\n$<\/td>\n0.78<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n0.56<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n(0.28<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n1.47<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Weighted-average common shares outstanding:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Basic<\/td>\n\u00a0<\/td>\n97,784,661<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n97,972,864<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n97,823,948<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n100,458,726<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Diluted<\/td>\n\u00a0<\/td>\n98,583,032<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n98,628,169<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n97,823,948<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n101,147,025<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
AS A PERCENTAGE OF NET SALES<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net sales<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n100.0<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cost of sales (excluding store impairment)<\/td>\n66.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n67.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n75.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n67.8<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Store impairment<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Gross profit<\/td>\n33.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n32.5<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n32.2<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Selling, general and administrative expenses<\/td>\n23.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n25.3<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income (loss) from operations<\/td>\n10.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-1.3<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6.9<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Other (loss) income, net<\/td>\n-0.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-0.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n0.2<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income (loss) before income taxes<\/td>\n10.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.7<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-1.4<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n7.1<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income tax expense (benefit)<\/td>\n2.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2.1<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-0.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1.8<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net income (loss)<\/td>\n7.9<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.6<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n-1.2<\/td>\n%<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5.3<\/td>\n%<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n URBAN OUTFITTERS, INC.<\/strong>
\n
\n Condensed Consolidated Balance Sheets<\/strong>
\n
\n (amounts in thousands, except share data)<\/em>
\n
\n (unaudited)<\/em>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n October 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n January 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n October 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\n ASSETS<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current assets:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents<\/td>\n$<\/td>\n624,945<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n221,839<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n167,070<\/td>\n\u00a0<\/td>\n<\/tr>\n
Marketable securities<\/td>\n\u00a0<\/td>\n2<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n211,453<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n170,697<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts receivable, net of allowance for doubtful accounts
of $3,098, $880 and $1,084, respectively<\/td>\n		\u00a0<\/td>\n87,187<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n88,288<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n99,971<\/td>\n\u00a0<\/td>\n<\/tr>\n
Inventory<\/td>\n\u00a0<\/td>\n489,234<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n409,534<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n531,565<\/td>\n\u00a0<\/td>\n<\/tr>\n
Prepaid expenses and other current assets<\/td>\n\u00a0<\/td>\n170,193<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n122,282<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n143,710<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current assets<\/td>\n\u00a0<\/td>\n1,371,561<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,053,396<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,113,013<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Property and equipment, net<\/td>\n\u00a0<\/td>\n930,564<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n890,032<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n890,538<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating lease right-of-use assets<\/td>\n\u00a0<\/td>\n1,101,495<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,170,531<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,119,280<\/td>\n\u00a0<\/td>\n<\/tr>\n
Marketable securities<\/td>\n\u00a0<\/td>\n9,350<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n97,096<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n83,121<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred income taxes and other assets<\/td>\n\u00a0<\/td>\n117,705<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n104,578<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n114,641<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total Assets<\/td>\n$<\/td>\n3,530,675<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,315,633<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,320,593<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
\n LIABILITIES AND SHAREHOLDERS<\/strong>
\n \u2019<\/strong>
\n EQUITY<\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accounts payable<\/td>\n$<\/td>\n349,793<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n167,871<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n232,901<\/td>\n\u00a0<\/td>\n<\/tr>\n
Current portion of operating lease liabilities<\/td>\n\u00a0<\/td>\n255,122<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n221,593<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n213,911<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accrued expenses, accrued compensation and other current liabilities<\/td>\n\u00a0<\/td>\n341,983<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n249,306<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n264,240<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total current liabilities<\/td>\n\u00a0<\/td>\n946,898<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n638,770<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n711,052<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-current portion of operating lease liabilities<\/td>\n\u00a0<\/td>\n1,069,434<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,137,495<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,119,340<\/td>\n\u00a0<\/td>\n<\/tr>\n
Long-term debt<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Deferred rent and other liabilities<\/td>\n\u00a0<\/td>\n83,024<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n84,013<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n60,348<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total Liabilities<\/td>\n\u00a0<\/td>\n2,099,356<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,860,278<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,890,740<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Shareholders\u2019 equity:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Preferred shares; $.0001 par value, 10,000,000 shares authorized,
none issued<\/td>\n		\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Common shares; $.0001 par value, 200,000,000 shares authorized,
97,786,381, 97,976,815 and 97,975,343 issued and outstanding,
respectively<\/td>\n		10<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n10<\/td>\n\u00a0<\/td>\n<\/tr>\n
Additional paid-in-capital<\/td>\n\u00a0<\/td>\n15,669<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n9,477<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n5,201<\/td>\n\u00a0<\/td>\n<\/tr>\n
Retained earnings<\/td>\n\u00a0<\/td>\n1,446,534<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,473,872<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,454,333<\/td>\n\u00a0<\/td>\n<\/tr>\n
Accumulated other comprehensive loss<\/td>\n\u00a0<\/td>\n(30,894<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(28,004<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(29,691<\/td>\n)<\/td>\n<\/tr>\n
Total Shareholders\u2019 Equity<\/td>\n\u00a0<\/td>\n1,431,319<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,455,355<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n1,429,853<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total Liabilities and Shareholders\u2019 Equity<\/td>\n$<\/td>\n3,530,675<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,315,633<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n3,320,593<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n
\n
\n <\/strong>\n <\/p>\n

\n \n <\/p>\n

\n URBAN OUTFITTERS, INC.<\/strong>
\n
\n Condensed Consolidated Statements of Cash Flows<\/strong>
\n
\n (amounts in thousands)<\/em>
\n
\n (unaudited)<\/em>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Nine Months Ended<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n October 31,<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\n 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n 2019<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash flows from operating activities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net (loss) income<\/td>\n$<\/td>\n(27,338<\/td>\n)<\/td>\n\u00a0<\/td>\n$<\/td>\n148,557<\/td>\n\u00a0<\/td>\n<\/tr>\n
Adjustments to reconcile net (loss) income to net cash provided by operating activities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Depreciation and amortization<\/td>\n\u00a0<\/td>\n78,308<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n83,617<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-cash lease expense<\/td>\n\u00a0<\/td>\n147,198<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n142,210<\/td>\n\u00a0<\/td>\n<\/tr>\n
(Benefit) provision for deferred income taxes<\/td>\n\u00a0<\/td>\n(15,293<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n211<\/td>\n\u00a0<\/td>\n<\/tr>\n
Share-based compensation expense<\/td>\n\u00a0<\/td>\n17,030<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16,807<\/td>\n\u00a0<\/td>\n<\/tr>\n
Store impairment<\/td>\n\u00a0<\/td>\n14,528<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Loss on disposition of property and equipment, net<\/td>\n\u00a0<\/td>\n706<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n819<\/td>\n\u00a0<\/td>\n<\/tr>\n
Changes in assets and liabilities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Receivables<\/td>\n\u00a0<\/td>\n1,137<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(19,550<\/td>\n)<\/td>\n<\/tr>\n
Inventory<\/td>\n\u00a0<\/td>\n(79,462<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(161,255<\/td>\n)<\/td>\n<\/tr>\n
Prepaid expenses and other assets<\/td>\n\u00a0<\/td>\n(35,403<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(37,228<\/td>\n)<\/td>\n<\/tr>\n
Payables, accrued expenses and other liabilities<\/td>\n\u00a0<\/td>\n235,618<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n100,534<\/td>\n\u00a0<\/td>\n<\/tr>\n
Operating lease liabilities<\/td>\n\u00a0<\/td>\n(122,360<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(153,320<\/td>\n)<\/td>\n<\/tr>\n
Net cash provided by operating activities<\/td>\n\u00a0<\/td>\n214,669<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n121,402<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash flows from investing activities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash paid for property and equipment<\/td>\n\u00a0<\/td>\n(89,153<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(171,121<\/td>\n)<\/td>\n<\/tr>\n
Cash paid for marketable securities<\/td>\n\u00a0<\/td>\n(93,945<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(299,322<\/td>\n)<\/td>\n<\/tr>\n
Sales and maturities of marketable securities<\/td>\n\u00a0<\/td>\n384,999<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n382,629<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net cash provided by (used in) investing activities<\/td>\n\u00a0<\/td>\n201,901<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(87,814<\/td>\n)<\/td>\n<\/tr>\n
Cash flows from financing activities:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Borrowings under long-term debt<\/td>\n\u00a0<\/td>\n220,000<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Repayments of long-term debt<\/td>\n\u00a0<\/td>\n(220,000<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n<\/tr>\n
Proceeds from the exercise of stock options<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n974<\/td>\n\u00a0<\/td>\n<\/tr>\n
Share repurchases related to share repurchase program<\/td>\n\u00a0<\/td>\n(7,036<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(217,421<\/td>\n)<\/td>\n<\/tr>\n
Share repurchases related to taxes for share-based awards<\/td>\n\u00a0<\/td>\n(3,802<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(5,574<\/td>\n)<\/td>\n<\/tr>\n
Net cash used in financing activities<\/td>\n\u00a0<\/td>\n(10,838<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(222,021<\/td>\n)<\/td>\n<\/tr>\n
Effect of exchange rate changes on cash and cash equivalents<\/td>\n\u00a0<\/td>\n(2,626<\/td>\n)<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(2,757<\/td>\n)<\/td>\n<\/tr>\n
Increase (decrease) in cash and cash equivalents<\/td>\n\u00a0<\/td>\n403,106<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(191,190<\/td>\n)<\/td>\n<\/tr>\n
Cash and cash equivalents at beginning of period<\/td>\n\u00a0<\/td>\n221,839<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n358,260<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash and cash equivalents at end of period<\/td>\n$<\/td>\n624,945<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n167,070<\/td>\n\u00a0<\/td>\n<\/tr>\n
Supplemental cash flow information:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Cash paid during the year for:<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Income taxes<\/td>\n$<\/td>\n11,549<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n56,910<\/td>\n\u00a0<\/td>\n<\/tr>\n
Non-cash investing activities\u2014Accrued capital expenditures<\/td>\n$<\/td>\n54,137<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n14,769<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

\n \n <\/p>\n\n\n\n\n
Contact:<\/td>\nOona McCullough<\/td>\n<\/tr>\n
\u00a0<\/td>\nDirector of Investor Relations<\/td>\n<\/tr>\n
\u00a0<\/td>\n(215) 454-4806<\/td>\n<\/tr>\n<\/table>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

PHILADELPHIA, Nov. 23, 2020 (GLOBE NEWSWIRE) — Urban Outfitters, Inc. (NASDAQ:URBN), a leading lifestyle products and services company which operates a portfolio of global consumer brands comprised of the Anthropologie, BHLDN, Free People, FP Movement, Terrain, Urban Outfitters, Nuuly and Menus & Venues brands, today announced net income of $77 million and record earnings per diluted share of $0.78 for the three months ended October 31, 2020. For the nine months ended October 31, 2020, net loss was $27 million and loss per diluted share was $0.28. Total Company net sales for the three months ended October 31, 2020, decreased 1.8% over the same period last year to $970 million. Comparable Retail segment net sales were flat as a result … <\/p>\n

Continue reading “URBN Profits Jump 38% and Produce Record Q3 EPS”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-387131","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nURBN Profits Jump 38% and Produce Record Q3 EPS - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/urbn-profits-jump-38-and-produce-record-q3-eps\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"URBN Profits Jump 38% and Produce Record Q3 EPS - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PHILADELPHIA, Nov. 23, 2020 (GLOBE NEWSWIRE) — Urban Outfitters, Inc. (NASDAQ:URBN), a leading lifestyle products and services company which operates a portfolio of global consumer brands comprised of the Anthropologie, BHLDN, Free People, FP Movement, Terrain, Urban Outfitters, Nuuly and Menus & Venues brands, today announced net income of $77 million and record earnings per diluted share of $0.78 for the three months ended October 31, 2020. For the nine months ended October 31, 2020, net loss was $27 million and loss per diluted share was $0.28. Total Company net sales for the three months ended October 31, 2020, decreased 1.8% over the same period last year to $970 million. 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(NASDAQ:URBN), a leading lifestyle products and services company which operates a portfolio of global consumer brands comprised of the Anthropologie, BHLDN, Free People, FP Movement, Terrain, Urban Outfitters, Nuuly and Menus & Venues brands, today announced net income of $77 million and record earnings per diluted share of $0.78 for the three months ended October 31, 2020. For the nine months ended October 31, 2020, net loss was $27 million and loss per diluted share was $0.28. Total Company net sales for the three months ended October 31, 2020, decreased 1.8% over the same period last year to $970 million. Comparable Retail segment net sales were flat as a result … Continue reading \"URBN Profits Jump 38% and Produce Record Q3 EPS\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/urbn-profits-jump-38-and-produce-record-q3-eps\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-23T21:08:12+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MDkzMCMzODQwNDA5IzIwMjA5NDk=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"11 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/urbn-profits-jump-38-and-produce-record-q3-eps\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/urbn-profits-jump-38-and-produce-record-q3-eps\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"URBN Profits Jump 38% and Produce Record Q3 EPS","datePublished":"2020-11-23T21:08:12+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/urbn-profits-jump-38-and-produce-record-q3-eps\/"},"wordCount":2115,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/urbn-profits-jump-38-and-produce-record-q3-eps\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODA5MDkzMCMzODQwNDA5IzIwMjA5NDk=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/urbn-profits-jump-38-and-produce-record-q3-eps\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/urbn-profits-jump-38-and-produce-record-q3-eps\/","name":"URBN Profits Jump 38% and Produce Record Q3 EPS - 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