US: Urban Outfitters posts "record" Q4 sales
- Total sales climb 6%
- Comparable sales up 1%
Lifestyle retailer Urban Outfitters has posted "record" sales in its fourth-quarter, driven by revenues at its Anthropologie and Free People divisions.
Sales in the quarter to the end of January were up 6% to US$905.8m from $856.8m.
Comparable retail segment sales, including the firm's comparable direct-to-consumer channel, increased 1%.
Comparable sales were up 20% at Free People and 10% at Anthropologie, but dropped 9% at Urban Outfitters. Wholesale segment revenues rose 24%.
"I am pleased to announce record sales for the fourth quarter of fiscal 2014 driven by outstanding performances from the Anthropologie and Free People brands," said Richard Hayne, CEO.
"Although customer response to our early spring fashion offerings has been difficult to read due to weather abnormalities, the Anthropologie and Free People brands continue to deliver solid comparable Retail segment sales gains. These gains, however, have been largely offset by weakness at the Urban Outfitters brand."
A turnaround is unlikely for Urban Outfitters in the near term, analysts believe, but changes could yield incremental improvements....
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