- Prachi Singh |
Urban Outfitters total net sales for the fourth quarter of fiscal 2016 were flat at 1.01 billion dollars compared to the same quarter last year. For the year ended January 31, 2016, total company net sales increased to 3.4 billion dollars or 4 percent over the prior year and comparable retail segment net sales increased 2 percent. Wholesale segment net sales increased 15 percent.
"Our January sales results mirrored the holiday period with direct-to-consumer results continuing to outpace store performance on a 'comp' basis," said Richard A. Hayne, Chief Executive Officer of the company, adding, "The brands managed their inventories well which should allow for a smooth transition to the spring season."
Q4 comparable sales decline
Comparable retail segment net sales, during the fourth quarter, which include our comparable direct-to-consumer channel, decreased 2 percent. Comparable retail segment net sales increased 2 percent at Free People and decreased 2 percent at the Anthropologie Group and 3 percent at Urban Outfitters. Wholesale segment net sales increased 29 percent, which the company said were partially due to delayed shipments from the third quarter carrying over into the fourth quarter.
During the year, the company opened a total of 31 new stores including: 14 Anthropologie Group stores, 13 Free People stores, and four Urban Outfitters stores, and closed two Urban Outfitters stores, two Anthropologie Group stores and one Free People store.