Urban Outfitters Q3 net sales up 12 percent

REPORT_ Urban Outfitters net sales for the third quarter

of fiscal 2014 increased 12 percent over the same quarter last year. Comparable retail segment net sales, which include the comparable direct-to-consumer channel, increased 7 percent. Comparable retail segment net sales increased 30 percent at Free People and 13 percent at Anthropologie and decreased 1 percent at Urban Outfitters. Wholesale segment net sales rose 21 percent.

For the third quarter the gross profit rate improved by 11 basis points versus the prior year’s comparable period. For the nine months ended October 31, 2013, the gross profit rate improved by 99 basis points versus the prior year’s comparable period.

Urban Outfitters is based in Pennsylvania. It is a retail company operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands. There are 225 Urban Outfitters stores. “I am pleased to announce that we delivered record third quarter sales and operating profits,” said Richard A. Hayne, Chief Executive Officer. “Despite this solid performance we remain cautious about the fourth quarter given the likelihood of a highly promotional environment and this year’s challenging holiday calendar.”