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Earnings Calls: 
Urban Outfitters First Quarter Earnings Call
Author: Rozalina Destanova
123jump.com
Last Update: 5:33 AM EDT May 19 2008
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Same-store sales rose 10%, with the biggest increase of 19% seen at its Free People business. Gross profit margins rose 4.44 percentage points due to fewer markdowns and improvements to initial merchandise costs. Website visits were up 31% to 15.3 million visits, a gain of 3.6 million visits over the same quarter last year. The company opened 12 new stores. Total company comparable inventory was down 3%, with a 2% decrease at Anthropologie and a 5% reduction at Urban Outfitters.

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Jennifer Black (Jennifer Black & Associates): Lifestyle centers comps were flat. Is that an opportunity going forward?

Glen Senik: What I mentioned was they were flat at Urban Outfitters, at Anthropologie they were with the group and I am hesitant to mention those kinds of things because if you drill down into the details it is typically a management issue. I said that we have one store that I can think of that has been cannibalized in our entire company and that one store happens to fall in the lifestyle grouping at Urban Outfitters so that had an impact. I do not think there is anything meaningful to take away, we believe in the lifestyle center concept, we will continue to open stores in them and that is it.

Tanya Daconian (William Blair & Co.): What growth pace do you believe is reasonable to expect for the wholesale sales for the rest of the year?

John Kyees: Wholesale has been double-digit positive growth for the last 17 quarters so we would not see any reason why that should change. As far as quantifying how high the double-digits would be, I would not want to guess at that.
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