Urban Outfitters Private Label Brands Top 50% of Revenue
Private labels account for more than half of Urban Outfitters’ revenue, and the company plans to further expand the category, executives told analysts in releasing Q2 earnings.
The retailer, which sells through Urban Outfitter, Anthropologie, Terrain (home and garden décor), Free People and Bhldn (bridal) stores, is launching its first private label beauty products brand, Ohii, in September.
“Our products well outperformed the market” in Q2 in terms of “markdowns and profitability,” said Hillary Super, President for Apparel & Accessories.
To further raise the profile of its brands, Urban Outfitters opened a new six-acre complex near Philadelphia that combines its Terrain, Anthropologie and Bhldn stores with an Amis Trattoria restaurant. The company’s net income rose 47.1% to $92.8 million in Q2 ended July 31, as revenue jumped 13.7% to $992.4 million, led by Anthropologie, where sales increased 10.7% $401.2 million. Same-store sales rose 13%.
Urban Outfitters, Hillary Super, Pres. Apparel & Accessories, 215-454-5500