US: Urban Outfitters Q4 sales up 17%
US fashion retailer Urban Outfitters has booked a 17% increase in fourth-quarter sales on the back of new store growth and improved merchandise.
Net sales reached US$857m for the three months to 31 January, up from $731m the same period last year. The company, which operates the Anthropologie, Free People and Urban Outfitters brands, said comparable store sales were flat.
Comparable retail segment sales were up 37% at Free People, 11% at Urban Outfitters and 7% at Anthropologie, helping total sales grow 11%.
Direct-to-consumer net sales surged 44%, while wholesale segment net sales rose 22%.
For the full-year, net sales increased 13% to $2.8bn from $2.47bn the prior year, while comparable store sales edged down 1%. During the year, the retailer opened 49 new stores and closed two Anthropologie stores.
"I congratulate our brand teams for producing a solid fourth quarter sales increase," said CEO Richard Hayne. "Our sales gains were driven by new stores, improved product, stronger creative execution and more effective marketing across all brands."
|Urban Outfitters Reports a 17% Sales Jump|
PHILADELPHIA, Feb. 7, 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 quarter and year ended January 31, 2013.
Total Company net sales for the fourth quarter of fiscal 2013 increased to $857 million or 17% over the same quarter last year. Comparable retail segment net sales, which include our comparable direct-to-consumer channel, increased 11% while comparable store net sales were flat. 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 37% at Free People, 11% at Urban Outfitters and 7% at Anthropologie. Direct-to-consumer net sales surged by 44% for the quarter and wholesale segment net sales rose 22%.
For the year ended January 31, 2013, total Company net sales increased to $2.8 billion or 13% over the prior year. Comparable retail segment net sales increased 7%, while comparable store net sales decreased by 1%. Excluding the direct-to-consumer returns at stores, comparable store net sales would have been low single-digit positive. Direct-to-consumer net sales increased by 31% for the year and wholesale segment net sales increased 12%.
"I congratulate our Brand teams for producing a solid fourth quarter sales increase," said Richard A. Hayne, Chief Executive Officer. "Our sales gains were driven by new stores, improved product, stronger creative execution and more effective marketing across all brands," finished Mr. Hayne.
Net sales by brand and channel for the three and twelve month periods were as follows:
During the year ended January 31, 2013, the Company opened a total of 49 new stores including: 18 Urban Outfitters stores, 15 Free People stores, 14 Anthropologie stores, 1 BHLDN store and 1 Terrain garden center, and closed 2 Anthropologie stores.
Urban Outfitters, Inc. is an innovative specialty retail company which offers a variety of lifestyle merchandise to highly defined customer niches through 215 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 January 31, 2013.
The Company will release fourth quarter and fiscal year 2013 earnings results on March 11, 2013.
Original source: http://news.urbn.com/phoenix.zhtml?c=115825&p=irol-newsArticle&ID=1782700&highlight=
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