Urban Outfitters Q4 comparable sales increase 4 percent

Urban Outfitters Inc. reported net income of 20 million dollars and 168 million dollars for the three months and year ended January 31, 2020, respectively. Earnings per diluted share were 20 cents and 1.67 dollars for the three months and year ended January 31, 2020, respectively. For the three months, adjusted net income was 49 million dollars and adjusted earnings per diluted share were 50 cents, while total company net sales for the quarter increased 3.6 percent to 1.17 billion dollars, while comparable retail segment net sales increased 4 percent, driven by growth in the digital channel, partially offset by negative retail store sales.

“I am pleased to announce record fourth quarter sales driven by a 4 percent retail segment ‘comp’,” said Richard A. Hayne, the company’s Chief Executive Officer in a statement, adding, “Positive customer reaction to our early spring assortments bode well for continued ‘comp’ growth in the first quarter.

Review of Urban Outfitters’ Q4 and full year performance

By brand, comparable retail segment net sales increased 9 percent at Free People, 6 percent at the Anthropologie Group and were flat at Urban Outfitters. Total retail segment net sales increased 4 percent and wholesale segment net sales decreased 10 percent due to a 12 percent decrease at Free People.

For the year ended January 31, 2020, total company net sales increased to 4 billion dollars or 0.8 percent over the prior year, while comparable retail segment net sales increased 1 percent, driven by growth in the digital channel, partially offset by negative retail store sales. Total retail segment net sales increased 1 percent, while wholesale segment net sales decreased 6 percent due to an 8 percent decrease at Free People.

During the year ended January 31, 2020, the company opened a total of 26 new retail locations including: 10 Free People stores, nine Anthropologie Group stores and seven Urban Outfitters stores; and closed 12 retail locations including: five Anthropologie Group stores, one Free People store, four Urban Outfitters stores and two Food and Beverage restaurants. During the year ended January 31, 2020, two franchisee-owned stores were opened including: one Anthropologie Group store and one Urban Outfitters store.

Picture:Facebook/Anthropologie