<SEC-DOCUMENT>0001193125-13-373429.txt : 20140116
<SEC-HEADER>0001193125-13-373429.hdr.sgml : 20140116
<ACCEPTANCE-DATETIME>20130920165132
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-13-373429
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20130920

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			URBAN OUTFITTERS INC
		CENTRAL INDEX KEY:			0000912615
		STANDARD INDUSTRIAL CLASSIFICATION:	RETAIL-FAMILY CLOTHING STORES [5651]
		IRS NUMBER:				232003332
		STATE OF INCORPORATION:			PA
		FISCAL YEAR END:			0131

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		5000 SOUTH BROAD STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19112
		BUSINESS PHONE:		2154545500

	MAIL ADDRESS:	
		STREET 1:		5000 SOUTH BROAD STREET
		CITY:			PHILADELPHIA
		STATE:			PA
		ZIP:			19112
</SEC-HEADER>
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<TYPE>CORRESP
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">September&nbsp;20, 2013 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>VIA EDGAR </U></B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Tia L. Jenkins </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Senior Assistant Chief Accountant </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation
Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities and Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, NE </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549-3651 </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><B>Re:</B></TD>
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<TD VALIGN="bottom"><B>Urban Outfitters, Inc.</B></TD></TR>
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<TD VALIGN="bottom"><B>Form 10-K for the Fiscal Year Ended January 31, 2013</B></TD></TR>
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<TD VALIGN="bottom"><B>Filed April 1, 2013</B></TD></TR>
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<TD VALIGN="bottom"><B>Form 10-Q for the Fiscal Quarter Ended April 30, 2013</B></TD></TR>
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<TD VALIGN="bottom"><B>Filed June 10, 2013</B></TD></TR>
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<TD VALIGN="bottom"><B>File No. 000-22754</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ms.&nbsp;Jenkins: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This
letter responds to the comment that the Staff of the United States Securities and Exchange Commission (the &#147;SEC&#148;) made in its letter to the Company dated August&nbsp;29, 2013 with respect to the Staff&#146;s review of the Company&#146;s
Form 10-K and Form 10-Q referenced above. For your convenience, we have repeated below in bold type the specific comment that the SEC made and have set forth the response of the Company immediately below the comment. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Form 10-Q for the Fiscal Quarter Ended April&nbsp;30, 2013 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Item&nbsp;2. Management&#146;s Discussion and Analysis of Financial Condition and Results of Operations, page 14 </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Results of Operations, page 20 </U></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE="font-family:Times New Roman; font-size:10pt"><B>We note your response to our comment in the letter dated July&nbsp;29, 2013 and understand that you do not plan to quantify the effects that your
direct-to-consumer sales have on comparable net sales due to the integration of your store and direct-to-consumer channels and the development of your &#147;omni-channel&#148; capabilities over the last few years. However, we note that you continue
to attribute changes in your revenues to movements in each of the separate channels in your discussion of your results of operations at page 20 and further emphasize the growth in your direct-to-consumer channel in statements made in your first and
second quarter earnings calls. For example, we note in your second quarter earnings conference call you reported that &#147;both retail channels showed positive comp sales growth with the direct-to-consumer channel continuing to go at a much faster
rate than the store channel.&#148; We also note that you refer to &#147;continued robust direct-to-consumer sales&#148; and &#147;strong direct-to-consumer sales growth&#148; to explain increases in your comp sales in your first quarter earnings
call. As a result, it appears that separate </B></P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Page 1 of 3 </P>


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quantified information about these two sales channels would provide investors relevant information regarding underlying trends in your sales channels to understand and evaluate your operations
consistent with SEC Release No.&nbsp;33-8350 and Item&nbsp;303(a)(3)(ii) of Regulation S-K. To the extent material, please confirm you will quantify the impact that your direct-to-consumer sales channel and comparable store sales have on your
comparable net sales in future filings to comply with Item&nbsp;303 of Regulation S-K. Please provide your draft disclosures to be included in future filings in your response. </B></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company, in its 10-K and 10-Q filings, seeks to provide useful information that is consistent with the Company&#146;s view of its operating results. As
required by Item&nbsp;303(a)(3)(ii) of Regulation S-K, the Company discussed the &#147;continued growth in its direct-to-consumer channel and positive comparable store net sales&#148; as known sales trends on a qualitative basis and acknowledges
that &#147;quantitative disclosure should be considered and may be required to the extent material if quantitative information is reasonably available.&#148; For the reasons discussed below, the Company does not believe that quantified information
about the impact that the direct-to-consumer sales channel and comparable store sales have on our comparable retail segment net sales would provide information that would allow investors to better understand our business. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company is focused on pleasing its customers by providing them with access to our entire inventory from any point of sale option within the Company. As a
result of technological advances, customers may purchase via multiple methods resulting in multiple methods of engagement with the Company. Customers can currently purchase merchandise: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">directly in a brick and mortar store, </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">through a sales associate in a store using a hand held device for product that is not contained in that store, </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">through their personal mobile devices, </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">through a traditional internet web site, or </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">by telephone through our call centers. </TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Purchases can be fulfilled by customer pick up in a store, shipment
from a different store or shipment from a fulfillment center. In addition, customers are able to return merchandise to any of our stores or fulfillment centers regardless of the method or location of the original purchase. Communication with our
customers is dynamic and rapidly changing. We believe that customers are adapting to technology advancements at a record pace and many are embracing the alternatives available to traditional brick and mortar shopping methods. In light of these
changes, the quantification of the distinction between direct-to-consumer channel and store sales is becoming less meaningful. What remains constant is our measure of retail segment sales. In this respect, we believe it is important for investors to
understand that growth has been realized as evidenced by our customers continued acceptance of our omni-channel approach rather than focus on any particular channel within the segment. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Page 2 of 3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Marketing, order processing and fulfillment functions cannot be discretely divided between store and
direct-to-consumer channels. For example, a customer might identify a product through social media, order it in person at a store and have it shipped from a fulfillment center. Such a transaction could be classified as a store sale, although it is
impacted by the marketing and fulfillment resources that might typically be associated with a direct-to-consumer channel sale. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In communicating with
investors, the Company seeks to provide information that is consistent with the way in which the Company views and operates its business. The Company believes that providing quantified information regarding direct-to-consumer channel and comparable
store sales would promote a view of the Company&#146;s retail segment that is inconsistent with its own view and that of its customers. Additionally, as a result of the continued integration between sales channels, the Company believes that
providing a quantitative discussion regarding the impact of direct to consumer channel and store comparable sales on comparable retail segment sales would not be appropriate. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The Company acknowledges the following: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">we are responsible for the adequacy and accuracy of the disclosure in the filing; </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">staff comments or changes to disclosure in response to staff comments do not foreclose the Commission from taking any action with respect to the filing; and </TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top">the Company may not assert staff comments as a defense in any proceeding initiated by the Commission or any person under federal securities laws of the United States. </TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you have any questions regarding the Company&#146;s response to your comments, please contact me at (215)&nbsp;454-7166 or Walter J. Mostek, Jr. at
(215)&nbsp;988-3330. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top">Very truly yours,</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ Francis J. Conforti</P></TD></TR>
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<TD VALIGN="top">Francis J. Conforti</TD></TR>
<TR STYLE="font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Chief Financial Officer</TD></TR>
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 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Page 3 of 3 </P>

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