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Urban Outfitters Q4 net sales increase 2 percent

By Prachi Singh

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Management

Total company net sales for the fourth quarter increased 2 percent to 1.03 billion dollars, while comparable retail segment net sales, which include comparable direct-to-consumer channel, were flat. For the year ended January 31, 2017, total company net sales increased to 3.5 billion dollars or 3 percent over the prior year. Comparable retail segment net sales increased 1 percent, while wholesale segment net sales increased 11 percent.

“We are pleased to announce record fourth quarter and full year sales driven mostly by the continued success in the direct-to-consumer channel,” said Richard A. Hayne, Chief Executive Officer in a statement, adding, “As we enter a new year, we will continue to shift our efforts and spend into our fastest growing channel.”

Urban Outfitters comparable sales up 2 percent

By brand, for the fourth quarter, comparable retail segment net sales increased 2 percent at Urban Outfitters and 1.2 percent at Free People, but decreased 2.9 percent at the Anthropologie Group. Comparable retail segment sales, the company said, were driven by strong, double-digit growth in the direct-to-consumer channel, which were offset by negative retail store comparable net sales. Wholesale segment net sales decreased by 1 percent, as company said, the prior year period benefitted from late shipments of third quarter bookings.

Urban Outfitters announced net income of 64 million dollars and 218 million dollars for the three months and year ended January 31, 2017, respectively. Earnings per diluted share were 0.55 dollar and 1.86 dollars for the same periods, respectively.

During the year ended January 31, 2017, the company opened a total of 29 new stores including 15 Free People stores, 10 Anthropologie Group stores and four Urban Outfitters stores; and closed seven stores including three Anthropologie Group stores, two Free People stores and two Urban Outfitters stores.

Picture:Urban Outfitters

Urban Outfitters