Urban Outfitters sees record sales in Q4
Philadelphia-based lifestyle group Urban Outfitters, Inc. announced its Q4 and 12-month sales results on Thursday, reporting record quarterly revenues driven by double-digit growth in its digital channels.
The company, whose brands include Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters, saw its net sales for the three months ended January 31, 2019 increase 3.7% to $1.13 billion, compared to $1.09 billion in the prior-year period. The group’s strong digital sales were partially offset by negative store sales, leading to an overall increase of 3% in comparable retail segment revenues. Wholesale revenues also grew 3% over the period. By brand, both Urban Outfitters and Free People saw an increase in comparable retail segment sales of 4%, while sales at Anthropologie Group rose 2%. “I’m pleased to report record fourth quarter revenues and the sixth consecutive quarter all brands delivered positive Retail segment ‘comps’,” said Urban Outfitters, Inc. CEO Richard A. Hayne in a release. For the 12-month period ended January 31, 2019, total company sales came to $4.0 billion, a 9.3% increase when compared to the $3.62 billion reported by the group in the previous year. Comparable retail segment sales rose 8% over the year, reflecting double-digit growth in the digital channel and positive retail store sales, while wholesale segment net sales rose 10%. Over the course of the year, the group opened a total of 18 company-operated stores and added the company's first five franchisee-owned locations to its retail network. The company intends to announce its full fourth-quarter and fiscal 2019 financial results on March 5, 2019.
By Robin Driver
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