[MidtownMike]

This is the type of retailer I think can start a retailing boom in downtown Harrisburg. When I lived in D.C .(Georgetown), Urban Outfitters was always busy in the evenings and weekends...I can see that or one of their other brand stores doing well from Wednesday to Saturday evenings as well as some daytime business the rest of the week.

Last updated: November 9, 2007 02:34am
Urban Sees Potential for 100 More Stores
By Robert Carr

PHILADELPHIA-Urban Outfitters Inc. registered positive results for the third quarter, increasing total revenues by 23% to $379.3 million, boosting earnings by 31% compared to Q3 2006 to $45.4 million and growing comparable store sales by 8% on average across its three brands of stores: Urban Outfitters, Anthropologie and Free People. While Urban Outfitters stores only increased comp stores slightly, the other two brand stores gained 17% and 18% in comp sales, respectively.

The company is on track with store openings as well, with 23 opened so far this fiscal year and another 15 to be opened by the end of December. A new division of the company, Free People, only has 13 stores, along with a website and a catalog, but company executives said during a conference call Thursday that they think the new offering can grow. “We expect 12-15 Free People stores next year,” said Glen Senk, CEO, during the call. “We were saying that we could be one day at 100 stores, but now based on the success on both coasts…I think the number’s probably much, much larger.”

There are a few other store initiatives in the works, Senk said. The firm is looking to launch its fourth concept, Terrain, next year, though the executives refused to provide any details. Also, Senk told analysts during the call that the company hopes to open its first Anthropologie store in Europe in 2010. “In fact, our real estate group is leaving to do the initial exploration next week,” he said during the call.

The company now has 117 Urban stores in the US, Canada and Europe. There are also 100 Anthropologie stores across the nation.