- Prachi Singh |
Urban Outfitters, Inc. announced net income of 33 million dollars and earnings per diluted share of 31 cents for the three months ended April 30, 2019 compared to 41 million dollars and 38 cents respectively in the same period last year. Total company net sales increased 1 percent to 864 million dollars.
“Our sales growth was driven by our seventh straight quarter of positive retail segment ‘comps’ as well as continued growth in our wholesale segment,” said Richard A. Hayne, the company’s Chief Executive Officer in a statement.
The company said, comparable retail segment net sales increased 1 percent, driven by double-digit growth in the digital channel, partially offset by negative retail store sales. By brand, comparable retail segment net sales increased 2 percent at Free People, 1 percent at the Anthropologie Group and were flat at Urban Outfitters. Wholesale segment net sales increased 2 percent.
During the three months, the company opened a total of four new retail locations including: two Anthropologie Group stores and two Free People stores; and closed three retail locations including: one Anthropologie Group store, one Free People store and one Food and Beverage restaurant. During the three months ended April 30, 2019, one Anthropologie Group franchisee-owned store was opened.