US: Urban Outfitters posts 15% rise in holiday sales
US fashion retailer Urban Outfitters has reported a 15% rise in holiday sales thanks to gains across all of its brands, along with improved inventory management.
The company, which operates the Anthropologie, Free People and Urban Outfitters chains, said net sales increased to US$666m for the two months to the end of December, compared to the same period the prior year.
Comparable retail sales, which include the group's comparable direct-to-consumer channel, climbed 9%, while comparable store sales edged down 1%. Comparable retail sales were up 33% at Free People, 10% at Urban Outfitters and 5% at Anthropologie.
Direct-to-consumer sales jumped 38% and wholesale sales increased 21%.
"We are pleased to announce a 15% increase in our holiday sales, driven by strength in all brands," said CEO Richard Hayne. "I am proud of the teams' execution as they delivered better product with more disciplined inventory management leading to improvement in regular price sales."
|Urban Outfitters Reports Record Holiday Sales|
PHILADELPHIA, Jan. 10, 2013 (GLOBE NEWSWIRE) -- Urban Outfitters, Inc. (Nasdaq:URBN), a leading lifestyle specialty retail company operating under the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, today announced record net sales for the two months ended December 31, 2012.
Total Company net sales for the two months increased to $666 million or 15% over the same period last year. Comparable retail segment net sales, which include our comparable direct-to-consumer channel, increased 9% while comparable store net sales decreased by 1%. Direct-to-consumer returns at stores are charged against store sales. Excluding these returns comparable store net sales would have been low single-digit positive. Comparable retail segment net sales increased 33% at Free People, 10% at Urban Outfittersand 5% at Anthropologie. Direct-to-consumer net sales increased by 38% for the period and wholesale segment net sales increased 21%.
"We are pleased to announce a 15% increase in our Holiday sales, driven by strength in all brands," saidRichard A. Hayne, Chief Executive Officer. "I am proud of the teams' execution as they delivered better product with more disciplined inventory management leading to improvement in regular price sales."
For the 11-month period ended December 31, 2012, total Company net sales increased to $2.6 billion or 12% over the same period last year. Comparable retail segment net sales increased 6% while comparable store net sales decreased by 1%. Direct-to-consumer net sales increased by 29% for the period and wholesale segment net sales increased 11%.
During the 11 months ended December 31, 2012, the Company opened a total of 46 new stores including: 15 Free People stores, 16 Urban Outfitters stores, 13 Anthropologie stores, 1 BHLDN store and 1 Terrain garden center, and closed 1 Anthropologie store.
Urban Outfitters, Inc. is an innovative specialty retail company which offers a variety of lifestyle merchandise to highly defined customer niches through 213 Urban Outfitters stores in the United States, Canada, andEurope, catalogs and websites; 180 Anthropologie stores in the United States, Canada and Europe, catalogs and websites; Free People wholesale, which sells its product to approximately 1,400 specialty stores and select department stores, 77 Free People stores in the United States and Canada, catalogs and websites; 2 BHLDN stores and a website and 2 Terrain garden centers and a website, as of December 31, 2012.
Original source: http://investor.urbn.com/phoenix.zhtml?c=115825&p=irol-newsArticle&ID=1773187&highlight=
Sales growth across all brands and channels has helped lifestyle retailer Urban Outfitters to a 38.4% hike in first quarter profit....
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