Same-store sales for the quarter, which ended Jan. 31, came in at 8% year-over-year, but executives say they may not meet their long-term plan of low single digits for the current quarter. The company's 90 namesake units posted a 13% same-store sales jump during the Q4, while its six Free People locations soared up 21%.
Other than changes in fashion, the company's 79 Anthropologie units were over-inventoried during the fourth quarter, giving it the lowest comps of all chains, at 2%. "We over-estimated demand and bought too much product," Hayne says.
For the coming year Urban Outfitters 35 to 38 Anthropologie and Urban Outfitters units and three to five new Free People stores. In 2005 the company opened 15 Urban Outfitters, 14 Anthropologies and four Free People.
Total sales during the fourth quarter jumped 27%, to about $318.6 million, while earnings shot up 31%, reaching $35.6 million. Urban Outfitters accounted for $144.2 million in sales, and Anthropologie pulled in $115.8 million. Free People, at $15.9 million, and direct-to-consumer's $42.7 million made up the remainder.
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