Today Urban Outfitters announced that the Leifsdottir brand will be sold exclusively at Anthropologie stores and through its direct-to-consumer business, and will discontinue wholesale distribution with the conclusion of spring deliveries. Johanna Uurasjarvi, Creative Director for Leifsdottir, will return to the Anthropologie brand as the Executive Creative Director of Anthropologie Product Design. "We believe this change gives us the best opportunity to maximize the brand equity of the Leifsdottir label, and we are excited to welcome Johanna back to the Anthropologie business," said Glen T. Senk, Chief Executive Officer. The Company expects to record one-time costs of approximately $2.7 million in the first quarter of the current fiscal year for the disposal of certain Leifsdottir assets, disposition of inventory and other related costs.
Urban Outfitters also announced that quarter-to-date comparable retail segment sales through the Easter holiday weekend were low single-digit negative, consistent with the update provided in its Annual Report on Form 10-K filed on April 1, 2011.
Urban Outfitters, Inc. is an innovative specialty retail company that offers a variety of lifestyle merchandise to highly defined customer niches through 176 Urban Outfitters stores in the United States, Canada, and Europe, catalogs and four web sites; 153 Anthropologie stores in the United States, Canada and Europe, catalogs and two websites; Free People wholesale, which sells its product to approximately 1,400 specialty stores and select department stores; 42 Free People stores, catalogs and a web site; Leifsdottir wholesale, which sells its product to approximately 65 specialty stores and select department stores and through a web site; 1 Terrain garden center and web site; and BHLDN, which sells its product through a web site as of January 31, 2011.
