The Chinese e-commerce giant will have $8 billion in cash after its IPO as well as valuable stock it can use for acquisitions. The ...
The apparel retailer will break ground on a fulfillment center for its web business.
Apparel, accessories and home décor retailer Urban Outfitters Inc. will build a fulfillment center near Reno, NV, to act as a Western distribution hub for its e-retail business, Nevada Gov. Brian Sandoval announced in a press conference yesterday unveiling the building’s design.
The 462,720-square-foot facility should be complete by mid-2012 and is expected to employ 150 full time. Sandoval says Urban Outfitters is investing $60 million in the project and the facility will include automated material handling systems and a data center. Urban Outfitters did respond to inquiries by press time.
Urban Outfitters sells online at UrbanOutfitters.com, Anthropologie.com, FreePeople.com, TerrainAtHome.com, Leifsdottir.com and BHLDN.com. The company is No. 48 on Internet Retailer’s Top 500 Guide. The company reported $433.8 million in e-retail sales in 2010, up 34% from 2009.
During an earnings call with analysts in March, Urban Outfitters CEO Glen Senk said the growth of the company’s web businesses was far outpacing that of any other channel and that the company intended to invest to support that growth. “Given the pace of growth in our direct-to-consumer channel, we'll continue to invest in assortment, site functionality, marketing including the database, social media, mobile and fulfillment capability,” Senk told analysts. “Our goal is to stay ahead of the consumer, ahead of what we believe is a paradigm shift in the way people are shopping.”