FINANCE

Urban Outfitters’ Q4 profit doubles

BY Marianne Wilson

Philadelphia — Urban Outfitters reported net income of $83 million for the fourth quarter ended January 31, 2013, up from $39.26 million in the year-ago period, on strong same-store sales and higher revenue.

Total company net sales for the quarter increased 17% to $857 million. Comparable retail segment net sales, which include comparable direct-to-consumer channel, increased 11% for the quarter, while comparable store net sales were flat.

Comparable retail segment net sales at Free People, Urban Outfitters and Anthropologie increased 37%, 11% and 7%, respectively. Direct-to-consumer net sales surged 44% and wholesale segment net sales grew 22% for the quarter.
Sales from Urban Outfitters grew 16.5%, while Anthropologie sales rose 11.9%. Free People sales surged 39.9%.

For the year ended January 31, 2013, total company net sales increased to $2.8 billion or 13% over the prior year.

"We entered the year with a plan to invest in initiatives to drive top line growth and improve margins,” said CEO Richard A. Hayne. “We succeeded on both fronts especially in the fourth quarter. We will pursue a similar strategy in the current fiscal year as we believe we have only begun to unlock the opportunities ahead of us.”

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OPERATIONS

Report: Target to end Shops concept

BY Marianne Wilson

New York — Target Corp. is shuttering — at least for now — its “The Shops at Target” concept, which showcased exclusive goods from select independent boutique retailers within in-store shops in Target stores, the Star Tribune reported.

“At this time, we don’t have plans for a future ‘flight’ of the Shops at Target, but we do have a number of collaborations planned for 2013 and beyond,” spokeswoman Katie Boylan said in the report.

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buangsila001 says:
Mar-13-2013 05:33 am

The first Target store was
The first Target store was opened in 1962. It is originally founded in 1902 and is the second largest discount retailing store in America. - J. Kale Flagg

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REAL ESTATE

Uniqlo to open second U.S. mall location

BY Marianne Wilson

New York — Uniqlo, a division of Japan’s Fast Retailing Co., will open its second U.S. mall location, at Palisades Center in West Nyack, N.Y., on March 15.

The 24,000-sq.-ft. store will showcase Uniqlo’s complete offering of products for men and women, as well as its spring kids collection.

“We are thrilled to be opening at Palisades Center as we continue to execute our growth strategy in the U.S. We look forward to showing the patrons of Palisades Center our innovative products, exceptional customer service and brand philosophy," said Larry Meyer, COO, Uniqlo USA.

“Drawing on such a strong dedicated fan base from our Manhattan flagship stores, it was a natural progression to look further out into the Tri-State area for our next location. Palisades Center offers a good space within a great mall – factors we strongly consider when looking for a new store location for our family-oriented brand,” said Shin Odake, Uniqlo USA EVP, East Coast Operations.

This will be the company’s sixth U.S. retail location. There are currently three Uniqlo stores in New York City; one in Paramus, N.J.; and one in San Francisco. The retailer will open its seventh location next month, in April, at Westchester’s Ridge Hill in Yonkers, N.Y.

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itoffer says:
Mar-20-2013 07:32 am

MCITP Certification build on
MCITP Certification build on the technical proficiency measured in the Microsoft Certified Technology Specialist (MCTS) certifications, therefore you will earn one or more MCTS certifications on your way to earning an MCITP credential. 70-640

itoffer says:
Mar-20-2013 07:32 am

MCITP Certification build on the technical proficiency measured in the Microsoft Certified Technology Specialist (MCTS) certifications, therefore you will earn one or more MCTS certifications on your way to earning an MCITP credential. 70-640

S.Gacho says:
Mar-17-2013 10:39 am

They said that a lot products
They said that a lot products sell at the mall will cost more than the original price. Yes, it might be true because the company has to pay for the rental of the mall also. - Carmack Moving and Storage

S.Gacho says:
Mar-17-2013 10:39 am

They said that a lot products sell at the mall will cost more than the original price. Yes, it might be true because the company has to pay for the rental of the mall also. - Carmack Moving and Storage

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