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Urban Outfitters Renews Expansion Efforts

PHILADELPHIA-The company will return to its historic expansion levels next year after a record-breaking quarter.

By Debra Hazel | Updated on November 13, 2009

PHILADELPHIA-Reporting a record-breaking third quarter, Urban Outfitters likely will return to historic expansion levels this year, executives said at the company’s third quarter conference call.

With plans on track to open 32 to 34 new stores during 2009, the company now plans closer to its typical 50-store expansion next year. Management is calling for Urban Outfitters, Anthropologie and Free People to open between 15 to 20 units each, the company said.

“We absolutely opened or will open less stores than we expected to [this year,” said Glen T. Senk, CEO. “When the economy reset, we took a hard look at costs and laid a line in the sand. We all feel fairly comfortable that we will get back to our targeted number next year. We have quite a few deals in the pipeline.”

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