Urban Outfitters Inc. Files 2024 Annual Report on Form 10-K

TL;DR

<b>Urban Outfitters Inc. filed its 2024 10-K report, detailing financial performance and corporate structure.</b>

AI Summary

URBAN OUTFITTERS INC (URBN) filed a Annual Report (10-K) with the SEC on April 1, 2024. The filing covers the fiscal year ending January 31, 2024. Urban Outfitters Inc. is incorporated in Pennsylvania. The company's primary SIC code is 5651 - Family Clothing Stores. Key credit facility mentioned is the Third Amended Credit Agreement with JPMorgan Chase Bank, N.A. The report details various financial instruments including corporate debt securities, common stock, and marketable investments.

Why It Matters

For investors and stakeholders tracking URBAN OUTFITTERS INC, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Urban Outfitters' financial health, operational segments, and risk factors for the fiscal year 2024, crucial for investors assessing the company's stability and future prospects. The detailed breakdown of financial instruments and credit facilities offers insight into the company's capital management and liquidity, important for understanding its ability to meet financial obligations and fund operations.

Risk Assessment

Risk Level: medium — URBAN OUTFITTERS INC shows moderate risk based on this filing. The company operates in the retail sector, which is subject to fluctuating consumer demand, fashion trends, and competitive pressures, as indicated by the broad SIC code and the nature of its business.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Urban Outfitters' performance and potential challenges in the apparel retail market.

Key Numbers

• 2024-01-31 — Fiscal Year End (Report period)
• 2024-04-01 — Filing Date (Date of filing)
• 000-22754 — SEC File Number (SEC filing identifier)
• 24809310 — Film Number (SEC film identifier)

Key Players & Entities

• URBAN OUTFITTERS INC (company) — COMPANY CONFORMED NAME
• 0000912615 (company) — CENTRAL INDEX KEY
• 5651 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• PA (company) — STATE OF INCORPORATION
• 2154545500 (company) — BUSINESS PHONE
• JPMORGAN CHASE BANK, N.A. (company) — Credit Facility Provider
• Third Amended Credit Agreement (company) — Credit Facility Name
• US (company) — Country

FAQ

Key Dates

• 2024-01-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-04-01: Filing Date — Date the 10-K was officially submitted to the SEC.

Glossary

10-K

An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (This is the primary document type filed, containing detailed financial and operational information.)

SIC Code

Standard Industrial Classification code, used to classify businesses based on their primary activity. (Helps categorize Urban Outfitters within the retail industry, specifically family clothing stores.)

Key Financial Figures

• $5.2 billion — five years, with sales of approximately $5.2 billion during the fiscal year ended January 31

Filing Documents

• urbn-20240131.htm (10-K) — 3132KB
• urbn-ex19_1.htm (EX-19.1) — 88KB
• urbn-ex21_1.htm (EX-21.1) — 62KB
• urbn-ex23_1.htm (EX-23.1) — 3KB
• urbn-ex31_1.htm (EX-31.1) — 15KB
• urbn-ex31_2.htm (EX-31.2) — 15KB
• urbn-ex32_1.htm (EX-32.1) — 5KB
• urbn-ex32_2.htm (EX-32.2) — 6KB
• urbn-ex97_1.htm (EX-97.1) — 42KB
• img59485891_0.jpg (GRAPHIC) — 62KB
• 0000950170-24-039320.txt (&nbsp;) — 13783KB
• urbn-20240131.xsd (EX-101.SCH) — 1507KB
• urbn-20240131_htm.xml (XML) — 3037KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 9 Item 1B. Unresolved Staff Comments 17 Item 1C. Cybersecurity 17 Item 2.

Properties

Properties 18 Item 3.

Legal Proceedings

Legal Proceedings 19 Item 4. Mine Safety Disclosures 19 PART II Item 5. Market for Registrant's Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities 20 Item 6.

Selected Financial Data

Selected Financial Data 21 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 22 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 33 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 33 Item 9A.

Controls and Procedures

Controls and Procedures 33 Item 9B. Other Information 34 PART III Item 10. Directors, Executive Officers and Corporate Governance 36 Item 11.

Executive Compensation

Executive Compensation 38 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Shareholder Matters 38 Item 13. Certain Relationships and Related Transactions, and Director Independence 38 Item 14. Principal Accountant Fees and Services 39 PART IV Item 15. Exhibits and Financial Statement Schedules 40 Item 16. Form 10-K Summary 42

Signatures

Signatures 43 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F- 1 Certain matters contained in this filing with the United States Securities and Exchange Commission ("SEC") may contain forward-looking statements and are being made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. When used in this Annual Report on Form 10-K, the words "project," "believe," "plan," "will," "anticipate," "expect" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Any one, or all, of the following factors could cause actual financial results to differ materially from those financial results mentioned in the forward-looking statements: overall economic and market conditions (including current levels of inflation) and worldwide political events and the resultant impact on consumer spending patterns and our pricing power, the difficulty in predicting and responding to shifts in fashion trends, changes in the level of competitive pricing and promotional activity and other industry factors, the effects of the implementation of the United Kingdom's withdrawal from membership in the European Union (commonly referred to as "Brexit"), including currency fluctuations, economic conditions and legal or regulatory changes, any effects of war, including geopolitical instability, impacts of the conflict in the Middle East and impacts of the war between Russia and Ukraine and from related sanctions imposed by the United States, European Union, United Kingdom and others, terrorism and civil unrest, natural disasters, severe or unseasonable weather conditions (including as a result of climate change) or public health crises (such as the coronavirus (COVID-19)), labor shortages and increases in labor costs, raw material costs and transportation costs, availability of suitable retail space for expansion, timing of store openings, risks associated with i

B usiness

Item 1. B usiness General We are a leading lifestyle products and services company that operates a portfolio of global consumer brands including the Anthropologie, Free People, FP Movement, Urban Outfitters, and Nuuly brands. We have achieved compounded annual sales growth of approximately 5% over the past five years, with sales of approximately $5.2 billion during the fiscal year ended January 31, 2024. We operate under three reportable segments – Retail, Wholesale and Nuuly. Our Retail segment includes our store and digital channels and includes our Anthropologie, Free People, FP Movement and Urban Outfitters brands. We have over 53 years of experience creating and managing retail stores that offer highly differentiated collections of fashion apparel, accessories and home goods, among other things, in inviting and dynamic store settings. Our core strategy is to provide unified environments that establish emotional bonds with the customer, through Company-owned stores and franchisee-owned stores. In addition to retail stores, we offer our products and services directly to our customers through our websites, mobile applications, social media and third-party digital platforms, catalogs and customer contact centers. We operate a Wholesale segment under the Free People, FP Movement and Urban Outfitters brands. The Wholesale segment sells through department and specialty stores worldwide, digital businesses and our Retail segment. The Wholesale segment primarily designs, develops and markets apparel, intimates, activewear and shoes. Our Nuuly segment includes Nuuly brand, which offers customers a more sustainable way to explore fashion through a monthly women's apparel subscription rental service. Milestones in our Company's growth are as follows: 1970: First Urban Outfitters store opened near the University of Pennsylvania campus in Philadelphia, Pennsylvania 1976: Incorporated in the Commonwealth of Pennsylvania 1984: Free People Wholesale division e

View Full Filing

View this 10-K filing on SEC EDGAR