Urban Outfitters reports strong net sales and profit growth

Urban Outfitters, Inc. announced net income of 86 million dollars and 298 million dollars for the three months and year ended January 31, 2019, respectively, while earnings per diluted share were 80 cents and 2.72 cents for the three months and year ended January 31, 2019, respectively. Total company net sales for the quarter increased 3.7 percent to 1.13 billion dollars and for the full year net sales increased by 9.3 percent to 4 billion dollars, over the prior year.

“The fourth quarter closed what was an incredibly successful year for URBN and all of our brands,” said Richard A. Hayne, the company’s Chief Executive Officer in a statement.

Comparable retail segment net sales, the company said, increased 3 percent in the fourth quarter, driven by double-digit growth in the digital channel, partially offset by negative retail store sales. By brand, comparable retail segment net sales increased 4 percent at Free People, 4 percent at Urban Outfitters and 2 percent at the Anthropologie Group, while wholesale segment net sales increased 3 percent. Full year comparable retail segment net sales increased 8 percent, driven by double-digit growth in the digital channel and positive retail store sales, while wholesale segment net sales increased 10 percent.

During the year ended January 31, 2019, the company added, it opened a total of 18 new retail locations including: six Free People stores, five Urban Outfitters stores, four Anthropologie Group stores and three Food and Beverage restaurants; and closed 11 retail locations including: five Urban Outfitters stores, three Anthropologie Group stores and three Free People stores. During the year, five franchisee-owned stores were opened including: four Urban Outfitters stores and one Free People store.

Picture:Facebook/Urban Outfitters