Urban Outfitters announces approval of repurchase of additional 10 million shares

Press Release:

PHILADELPHIA, Nov. 16, 2010 (GLOBE NEWSWIRE) -- Urban Outfitters, Inc. (Nasdaq:URBN - News), a leading lifestyle specialty retail company operating under the Anthropologie, Free People, Leifsdottir, Terrain and Urban Outfitters brands, today announced that its Board of Directors has authorized the repurchase of an additional 10 million common shares. In addition, 491,533 shares of the original authorization of 8 million shares currently remain available under the 2006 share repurchase plan. Pursuant to this program, the company, at its discretion, may repurchase shares of its common stock from time to time, subject to market conditions and at prevailing market prices.

Urban Outfitters, Inc. is an innovative specialty retail company which offers a variety of lifestyle merchandise to highly defined customer niches through 166 Urban Outfitters stores in the United States, Canada, and Europe, catalogs and two web sites; 150 Anthropologie stores in the United States, Canada and Europe, catalogs and two websites; Free People wholesale, which sells its product to approximately 1,400 specialty stores and select department stores; 38 Free People stores, catalogs and web site; Leifsdottir wholesale, which sells its product to approximately 65 specialty stores and select department stores, and a Leifsdottir web site and 1 Terrain garden center and web site as of October 31, 2010.