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Urban Outfitters Inc.

(URBN)
Rohan Motwani
Consumer
12/3/14

Family Clothing Stores


Main Activities

Stock a general line of new clothing for


men, women, and children without
specializing on gender or age group
Additional services include basic
alterations such as hemming
Retailing casual and formal apparel for
both genders and all ages

Key Economic Drivers

Key Statistics

Revenue=96.2bn
Profit=3.7bn
Growth (past 5 yrs)=1.6%
Growth (next 5 yrs)=2.5%
Wages=11.3bn
21,498 businesses

Per capita disposable income


External competition for the industry
Import penetration into the
manufacturing sector
Number of adults aged 20 to 64
World price of cotton, cost of labor

Future Outlook

Expected growth caused by increase in


per capita disposable income, less
sensitivity to price and more reaction to
branding and marketing
World price of cotton expected to
decline, labor cost expected to rise
Threats: specialty stores, e-commerce

Market Segmentation
Products and Services (2014)

Demographic Segmentation (2014)

Geographic Segmentation

Urban Outfitters Inc. (URBN)


Mission Statement: Lifestyle merchandising is our business and our passion.
The goal for our brands is to build a strong emotional bond with the customer.
To do this, we must build lifestyle environments that appeal emotionally and
offer fashion correct products on a timely basis. Our customers are the
reason and the inspiration for everything we do.
Main Products/Services: womens and mens fashion apparel, footwear,
accessories, sporting apparel, eclectic mix of apartment wares, jewelry
Headquarters/Geographic Coverage: HQ in Philadelphia, PA, 85% sales in
U.S., presence in ~40 states, ~40 stores in Europe, more than 20 in Canada
People: Richard A. Hayne- Chairman, President & CEO, Frank J. Conforti-CFO,
Tedford Marlow-CEO Urban Outfitters Group, David W. McCreight-CEO
Anthropologie Group, 8,473 total employees, 232 UO stores, 190
Anthropologie stores, 92 Free People stores, 2 Terrain garden centers
Major Projects/News: Price target recently lowered, disappointing post Black
Friday analysis, positive outlook maintained for holidays, selling directly on
Wanleo, expanded to Hawaii, under fire for Hilary Clinton nutcracker toy

Urban Outfitters Inc. (URBN)

Revenue: 3.22b
Sales Growth:
Net Income: 282.36m
Total Assets: 2.22b
Current Price: 31.24
Previous Close: 32.32

Open: 32.00
1y Target Estimate: 34.25
Beta: 0.68
52 week Range: 27.89-40.67
Average Volume: 2.7m
Market Cap: 4.19b

P/E: 18.47
PEG: 1.48
EPS: 1.69
Dividend & Yield: N/A

Competitor Analysis
Company

Description

Geographic Reach

Key Financials

Abercrombie
& Fitch Co.
(ANF)

Specialty retailer of
casual apparel for
men, women, and
kids

1,000 stores: U.S.,


Europe, Canada,
Australia, Asia, HQ in
Ohio

Market Cap: 2B
P/E: 54.08
PEG: 1.12
EPS: 0.52
Dividend/Yield: 0.8 (2.8%)

The Gap,
Inc.(GPS)

Worldwide retailer
providing apparel,
accessories,
personal care
products for men,
women and children

3,680 stores: Asia,


Australia, Eastern
Europe, Latin
America, Middle Est,
Africa, HQ in
California

Market Cap: 16.8B


P/E: 14.22
PEG: 1.29
EPS: 2.79
Dividend/Yield: 0.88 (2.2%)

American
Eagle
Outfitters,
Inc.(AEO)

Specialty retailer of
clothing,
accessories, and
personal care
products

1,082 stores: U.S.,


Canada, Mexico,
China, Hong Kong, 82
licensed international
franchise stores

Market Cap: 2.7B


P/E: 59.66
PEG: 3.34
EPS:0.23
Dividend/Yield: 0.5 (3.5%)

DCF Analysis

Urban Outfitters Inc. (URBN) Buy


Despite poor Q3 earnings, Urban Outfitters is
currently expanding: new locations, new media
Still a low P/E and reasonably low PEG relative to
competitors given earnings miss
Poor Black Friday results resulted in the fall of many
retailers stock prices; however the positive outlook
for the upcoming holiday season provides an ideal
time to buy for opportunistic investors
Very liquid company without much debt relative to
current assets (current ratio ~3)

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