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Urban Outfitters full year net income decreases to 108 mn dollars

By Prachi Singh

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Management

Urban Outfitters, Inc. announced net income of 1 million dollars and 108 million dollars for the three months and year ended January 31, 2018, respectively against 64 million dollars and 218 million dollars for the same periods last year. Earnings per diluted share were 0.01 dollar and 0.96 dollar for the three months and year ended January 31, 2018, respectively. For the three months, adjusted net income was 75 million dollars and adjusted earnings per diluted share were 0.69 dollar.

“I am pleased to announce that URBN produced record Q4 sales primarily driven by positive ‘comps’ at all three brands,” said Richard A. Hayne, the company’s Chief Executive Officer in a statement, adding, “Positive customer reaction to the new spring fashion offerings at all our brands has been strong and makes us optimistic regarding the first half of the year.”

Highlights of Urban Outfitter’s Q4 and FY17 results

Total company net sales for the fourth quarter increased 5.7 percent to 1.09 billion dollars, while comparable retail segment net sales increased 4 percent, driven by strong, double-digit growth in the digital channel partially offset by negative retail store sales. By brand, comparable retail segment net sales increased 8 percent at Free People, 5 percent at the Anthropologie Group and 2 percent at Urban Outfitters. Wholesale segment net sales increased 6.3 percent.

For the year, total company net sales increased to 3.6 billion dollars or 2 percent over the prior year, while comparable Retail segment net sales were flat. Wholesale segment net sales increased 9.5 percent.

For the three months, the gross profit rate decreased by 176 basis points and the adjusted gross profit rate decreased 113 basis points versus the prior year’s comparable period. For the year ended January 31, 2018, the gross profit rate decreased by 259 basis points versus the prior year’s comparable period.

During the year ended January 31, 2018, the company opened a total of 18 new locations including: eight Free People stores, five Urban Outfitters stores, four Anthropologie Group stores and one food and beverage restaurant; and closed 11 locations including: three Free People stores, two Urban Outfitters stores, three Anthropologie Group stores and three food and beverage restaurants.

Picture:Anthropologie website

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