Urban Outfitters is a popular retail chain known for its trendy and fashionable clothing and home goods. The company's private label, Urban Outfitters brands, is a significant part of its business and offers a wide range of products, including clothing, accessories, and home decor.
One of the main advantages of Urban Outfitters' private label is that it allows the company to have more control over the design, production, and pricing of its products. This means that the company can more easily create unique and exclusive items that reflect its brand identity and aesthetic. Additionally, private labeling can help the company to reduce costs and increase margins by eliminating the need to pay licensing fees to third-party brands.
Urban Outfitters' private label brands are designed to appeal to the company's target audience, which is largely made up of young, urban-dwelling consumers who are interested in fashion, art, and music. The company's private label brands include Urban Outfitters, Anthropologie, Free People, and Terrain, each of which has its own unique style and focus. For example, Urban Outfitters is known for its edgy, streetwear-inspired clothing, while Anthropologie is known for its bohemian, romantic style.
One of the keys to Urban Outfitters' success with its private label brands is the company's ability to continuously evolve and update its product offerings. Urban Outfitters has a team of in-house designers who work closely with trend forecasters and stylists to create collections that are on-trend and relevant to its target audience. The company also collaborates with outside designers and artists to create limited-edition collections and one-of-a-kind items.
Urban Outfitters' private label products are available in the company's physical stores as well as online, through its e-commerce platform. The company's online presence is an important part of its business, as it allows the company to reach a wider audience and offer a more convenient shopping experience to its customers.
Overall, Urban Outfitters' private label is a key part of the company's success, as it allows the company to offer unique and exclusive products that are tailored to the preferences and needs of its target audience. The company's strong focus on design and innovation helps it to stay ahead of trends and remain relevant in an increasingly competitive market.
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This fosters our relationships with our customers and encourages them to continue shopping with us. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. Some of the factors impacting discretionary consumer spending include general economic conditions, wages and employment, consumer debt, reductions in net worth based on severe market declines, residential real estate and mortgage markets, taxation, fuel and energy prices, interest rates, consumer confidence, political and economic crises and other macroeconomic factors. The economic conditions may also affect the number of specialty retail businesses and their ability to purchase merchandise from our Wholesale segment. Wholesale sales growth was driven by an increase in units that was partially offset by a decrease in average unit selling price. We account for a gift card transaction by recording a liability at the time the gift card is issued to the customer in exchange for consideration from the customer.
Urban Outfitters has three private labels on their opportunities.alumdev.columbia.edu
Over the next several years we plan to continue to shift investment to the direct-to-consumer channel to align with changing customer preferences. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS in thousands, except share and per share data 1. Cash and Cash Equivalents Cash and cash equivalents are defined as cash and short-term highly liquid investments with maturities of less than three months at the time of purchase. In addition, wage actions by other retailers may require us to increase wage rates in order to attract and retain talented employees. Our Retail segment consists of our Anthropologie, Bhldn, Free People, Terrain and Urban Outfitters brands and our Food and Beverage division.
Urban Outfitters Private Label Brands Top 50% of Revenue
This candidate will need to deliver the sales and profit plan for assigned classes through the precise execution of a well-conceived merchandise strategy. Our system of internal control is designed to provide reasonable, not absolute, assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. The data presented below should be read in conjunction with Item7: Management's Discussion and Analysis of Financial Condition and Results of Operations and the Consolidated Financial Statements of the Company and the related notes thereto, which appear elsewhere in this Annual Report on Form 10-K. If foreign sourced products become difficult or impossible to bring into the United States due to significant labor issues, such as strikes at any of our ports in the United States, and if we cannot obtain such merchandise from other sources at similar costs, our sales and gross profit may be adversely affected. Competition Our Retail and Wholesale segments compete with individual and chain fashion specialty stores as well as department stores, both in stores and online, in highly competitive domestic and international markets. District managers are responsible for several stores and monitor and supervise individual store managers.
Likewise, an actual loss arising from a loss contingency which significantly exceeds our reserve could have a material adverse impact on our operating results for the period in which such actual loss becomes known. Other operating equipment is recorded at cost and amortized using the straight-line method over its useful life, which is three to ten years. We own and operate a 1,000,000 square foot fulfillment center in Gap, Pennsylvania. We also believe that our blogs continue this conversation. The flow of products from our vendors could also be adversely affected by financial or political instability in any of the countries in which the products we purchase are manufactured, if the instability affects the production or export of merchandise from those countries. In addition to management training programs for both newly hired and existing employees, we have a number of retention programs that offer qualitative and quantitative performance-based incentives to district-level managers, store managers and full-time sales associates.
We have established a reputation with these young adults, who are culturally sophisticated, self-expressive and concerned with acceptance by their peer group. Urban Renewal is a vintage brand that offers up- cycled pieces that are re-designed and re-worked by the design team. Securities classified as non-current assets have maturity dates greater than one year from the balance sheet date. We expect the amount of our provision and related inventory to increase over time as we increase our sales. McCreight 54 President, Urban Outfitters, Inc.
Urban Outfitters, Inc. Company Profile, Information, Business Description, History, Background Information on Urban Outfitters, Inc.
Also, others may assert rights in, or ownership of, our trademarks and other intellectual property and we may not be able to successfully resolve these types of conflicts to our satisfaction. Free People focuses its product offering on private label merchandise targeted to young contemporary women aged 25 to 30 and provides a unique merchandise mix of casual women's apparel, intimates, shoes, activewear, accessories, beauty and wellness, home products and gifts. We believe that by starting a conversation and interacting directly with our customers, most notably via Facebook, Twitter, Pinterest, Instagram, Snapchat and our own mobile applications, we are more effective at understanding and serving their fashion needs. Fifteen stores were opened in 2000, 12 in 2001, and 15 in 2002. You can order backordered items to hold your favorite colors and sizes, but they will not be shipped to you until they are in stock.
We have a second fully redundant data center located in our Reno fulfillment center that functions as a disaster recovery site for our direct-to-consumer, data communication and other business critical systems. Our ability to succeed in the early stages of new concepts could require significant capital expenditures and management attention. The Company manages the credit risk associated with cash, cash equivalents and marketable securities by investing in high-quality securities held with reputable trustees and, by policy, limiting the amount of credit exposure to any one issuer or issue, as well as providing limitations on investment maturities. Our Retail segment competes on the basis of, among other things, the location of our stores; 8 Table of Contents website, mobile application and catalog presentation; website and mobile application design; the breadth, quality, style, price and availability of our merchandise and the level of customer service offered. In addition, certain of our wholesale competitors have greater name recognition and greater financial, marketing and other resources than us. In addition to our retail stores, we offer our products and market our brands directly to the consumer through our e-commerce websites, mobile applications and catalogs.
Private Label Partnerships, the Deals that Keep Fashion Ticking
We believe that our existing cash and cash equivalents, available credit facilities and future cash flows from operations will be sufficient to fund these initiatives. Free People's Retail segment net sales accounted for approximately 10. The recovery we receive under any insurance we maintain for these purposes may be delayed or may be insufficient to fully offset potential losses. Translation adjustments are not included in determining net income, but are included in "Accumulated other comprehensive loss" within "Shareholders' equity. The update requires a modified retrospective transition approach, with a cumulative-effect adjustment to retained earnings.
Lambert worked as a prosecutor in the New York County District Attorney's office and the Austin, Texas Attorney General's office. F-4 Table of Contents URBAN OUTFITTERS, INC. In July 2015, the FASB issued an accounting standards update that clarifies the measurement of inventory. The brand offers an estimated 15,000 to 20,000 SKUs across the Retail segment. Level3 assets consist of financial instruments where there has been no active market.
As of January31, 2017, we operated 242 Urban Outfitters stores of which 181 were located in the United States, 18 were located in Canada and 43 were located in Europe. Results of Operations As a Percentage of Net Sales The following table sets forth, for the periods indicated, the percentage of our net sales represented by certain income statement data and the change in certain income statement data from period to period. Commitments and Contingencies From time to time, the Company is named as a defendant in legal actions arising from normal business activities. Additionally, the internet and other new technologies facilitate competitive entry and comparison shopping in our Retail segment. Revenue is presented on a net basis and does not include any tax assessed by a governmental or municipal authority.
