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Segment Reporting
 9 Months Ended
Oct. 31, 2011
Segment Reporting [Abstract]  
Segment Reporting

11. Segment Reporting

The Company is a global retailer of lifestyle-oriented general merchandise with two reporting segments—"Retail" and "Wholesale." The Company's Retail segment consists of the aggregation of its five brands operating through 408 stores under the retail names "Urban Outfitters," "Anthropologie," "Free People," "BHLDN" and "Terrain" and includes its direct marketing campaigns, which consisted of five catalogs and nine web sites as of October 31, 2011. The Company operates its retail stores and its direct marketing campaigns as a single operating segment. Net sales from the Retail segment accounted for approximately 94% of total consolidated net sales for the three and nine months ended October 31, 2011 and October 31, 2010, respectively. The remainder is derived from the Company's Wholesale segment, which distributes apparel to its retail segment and to approximately 1,400 better department and specialty retailers worldwide through its Free People brand.

The Company has aggregated its retail stores and associated direct marketing campaigns into a retail segment based upon their unique management, customer base and economic characteristics. Reporting in this format provides management with the financial information necessary to evaluate the success of the segments and the overall business. The Company evaluates the performance of the segments based on the net sales and pre-tax income from operations (excluding inter-company charges) of the segment. Corporate expenses include expenses incurred and directed by the corporate office that are not allocated to segments. The principal identifiable assets for each operating segment are inventories and property and equipment. Other assets are comprised primarily of general corporate assets, which principally consist of cash and cash equivalents, marketable securities and other assets which are not allocated to the Company's segments. The Company accounts for inter-segment sales and transfers as if the sales and transfers were made to third parties making similar volume purchases.

 

The accounting policies of the operating segments are the same as those described in Note 2, Summary of Significant Accounting Policies, in the Notes to Consolidated Financial Statements included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2011. Both the Retail and Wholesale segments are highly diversified. No one customer comprises more than 10% of the Company's total consolidated net sales. A summary of the information about the Company's operations by segment is as follows:

 

                         
     October 31,
2011		      January 31,
2011		      October 31,
2010		  

Inventories

                           

Retail operations

    $ 354,907       $ 213,420       $ 273,030   

Wholesale operations

      12,500         16,141         16,226   
    

 

 

     

 

 

     

 

 

  

Total inventories

    $ 367,407       $ 229,561       $ 289,256   
    

 

 

     

 

 

     

 

 

  

Property and equipment, net

                           

Retail operations

    $ 667,346       $ 582,241       $ 578,519   

Wholesale operations

      3,406         4,105         4,267   
    

 

 

     

 

 

     

 

 

  

Total property and equipment, net

    $ 670,752       $ 586,346       $ 582,786   
    

 

 

     

 

 

     

 

 

  

 

                                 
     Three Months Ended
October 31,		     Nine Months Ended
October 31,		  
     2011     2010     2011     2010  

Net sales

                                 

Retail operations

    $ 571,072      $ 539,095      $ 1,641,816      $ 1,516,130   

Wholesale operations

      41,320        35,938        108,097        93,124   

Intersegment elimination

      (2,439 )      (1,441 )      (6,760 )      (3,542 ) 
    

 

 

    

 

 

    

 

 

    

 

 

  

Total net sales

    $ 609,953      $ 573,592      $ 1,743,153      $ 1,605,712   
    

 

 

    

 

 

    

 

 

    

 

 

  

Income from operations

                                 

Retail operations

    $ 69,270      $ 103,633      $ 220,420      $ 295,665   

Wholesale operations

      10,213        7,036        20,449        18,903   

Intersegment elimination

      3        (118 )      (675 )      (302 ) 
    

 

 

    

 

 

    

 

 

    

 

 

  

Total segment operating income

      79,486        110,551        240,194        314,266   

General corporate expenses

      (6,125 )      (5,751 )      (20,002 )      (20,386 ) 
    

 

 

    

 

 

    

 

 

    

 

 

  

Total income from operations

    $ 73,361      $ 104,800      $ 220,192      $ 293,880   
    

 

 

    

 

 

    

 

 

    

 

 

  

The Company has foreign operations in Europe and Canada. Revenues and long-lived assets, based upon the Company's domestic and foreign operations, are as follows:

 

                         
     October 31,
2011		      January 31,
2011		      October 31,
2010		  

Property and equipment, net

                           

Domestic operations

    $ 549,998       $ 497,521       $ 505,411   

Foreign operations

      120,754         88,825         77,375   
    

 

 

     

 

 

     

 

 

  

Total property and equipment, net

    $ 670,752       $ 586,346       $ 582,786   
    

 

 

     

 

 

     

 

 

  

 

                                 
     Three Months Ended
October 31,		      Nine Months Ended
October 31,		  
     2011      2010      2011      2010  

Net sales

                                    

Domestic operations

    $ 536,937       $ 510,636       $ 1,538,843       $ 1,440,293   

Foreign operations

      73,016         62,956         204,310         165,419   
    

 

 

     

 

 

     

 

 

     

 

 

  

Total net sales

    $ 609,953       $ 573,592       $ 1,743,153       $ 1,605,712