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4-Traders Homepage  >  Equities  >  Nasdaq  >  Urban Outfitters, Inc.    URBN

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Urban Outfitters : URBN Appoints a New Member to the Board of Directors and Announces an Additional Share Repurchase Program

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08/24/2017 | 10:06pm CEST


PHILADELPHIA, August 24, 2017 - Urban Outfitters, Inc. (NASDAQ:URBN), a leading
lifestyle products and services company which operates a portfolio of global
consumer brands comprised of Anthropologie, BHLDN, Free People, Terrain and
Urban Outfitters brands and the Food and Beverage division, today announced
that, effective August 22, 2017, it had expanded the size of its Board from 9 to
10 and elected Sukhinder Singh Cassidy as a Director. The addition of Ms.
Cassidy further expands the digital expertise that resides on the Board.  She
will serve on the Nominating and Governance Committee.

Ms. Cassidy is a leading Internet executive and entrepreneur, with over 20 years
of experience building digital businesses.  In addition to founding several
companies, including theBoardlist, Joyus and Yodlee, she served as CEO of
Polyvore, was President of Asia Pacific and Latin America for Google, and was an
early business development executive at Amazon.  Besides URBN, she also
currently serves on the boards of TripAdvisor and Ericsson.

 "We are delighted to have Sukhinder Singh Cassidy join our Board as an
independent director," said Richard A. Hayne, Chairman of Urban Outfitters Inc.
"She brings with her a wealth of knowledge and experience about our fast-growing
digital channel, and I believe she will help guide our digital and omni-channel
strategies so we can continue that growth," finished Mr. Hayne.

The Board of Directors also authorized the repurchase of an additional 20
million common shares.  Pursuant to this program, the Company, at its
discretion, may repurchase its common shares from time to time, subject to
market conditions and at prevailing market prices. The company has 985,354
shares remaining under the February 2015 share repurchase authorization.

Urban  Outfitters,  Inc.,  offers  lifestyle-oriented  general  merchandise  and
consumer  products and  services through  a portfolio  of global consumer brands
comprised  of  245 Urban  Outfitters  stores  in  the United States, Canada, and
Europe and websites; 225 Anthropologie Group stores in the United States, Canada
and  Europe, catalogs and websites; 130 Free  People stores in the United States
and  Canada, catalogs and  websites and 12 Food  and Beverage restaurants, as of
July  31, 2017. Free People  wholesale sells  its product  through approximately
1,900 department  and specialty  stores worldwide,  third-party websites and the
Company's own retail stores.


This  news release is being made pursuant to the "safe harbor" provisions of the
Private  Securities Litigation Reform Act of 1995.  Certain matters contained in
this  release  may  constitute  forward-looking  statements.  When  used in this
release,  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:  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,  overall economic  and market  conditions and worldwide
political  events and  the resultant  impact on  consumer spending patterns, any
effects of war, terrorism, and civil unrest, natural disasters or severe weather
conditions,  increases in labor costs, availability of suitable retail space for
expansion,  timing  of  store  openings,  risks  associated  with  international
expansion,  seasonal fluctuations in  gross sales, the  departure of one or more
key senior executives, import risks, changes to U.S. and foreign trade policies,
including  the enactment  of tariffs,  border adjustment  taxes or  increases in
duties  or quotas, the  closing or disruption  of, or any  damage to, any of our
distribution  centers, our ability to  protect our intellectual property rights,
risks  associated  with  internet  sales,  response  to  new store concepts, our
ability  to integrate acquisitions, failure of our manufacturers and third-party
vendors  to comply with our social  compliance program, changes in our effective
income  tax rate,  changes in  accounting standards  and subjective assumptions,
regulatory changes and legal matters and other risks identified in the Company's
filings  with the Securities and Exchange  Commission. The Company disclaims any
intent  or obligation to update forward-looking statements even if experience or
future  changes make it clear that actual results may differ materially from any
projected results expressed or implied therein.

###

Contact:
Oona McCullough
Director of Investor Relations
(215) 454-4806




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
    
Source: Urban Outfitters via GlobeNewswire

 
  

© InPublic, source US Press Releases

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