• Q4 net profit up 110% to US$83m
  • Net sales up 17% to $857m
  • More opportunities ahead, says CEO

Retailer Urban Outfitters more than doubled its fourth quarter net profit, thanks to surges in direct-to-consumer sales and wholesale revenues.

The owner of the Anthropologie, Free People, Terrain and Urban Outfitters brands posted double-digit sales increases for both the fourth quarter and full year ended 31 January, recording an 11% fourth quarter rise in total comparable retail sales.

Store comps were flat, but retail comps surged 37% at Free People, 11% at Urban Outfitters and 7% at Anthropologie, the company said.

Direct-to-consumer sales were up 44% in the quarter, while wholesale segment revenues rose 22%.

For the full year, net sales were up 13% to $2.8bn and net profit rose 28% to $237m, thanks to similarly impressive increases in direct-to-consumer sales and wholesale revenues.

“We entered the year with a plan to invest in initiatives to drive top-line growth and improve margins,” said CEO Richard Hayne. “We succeeded on both fronts, especially in the fourth quarter.

“We will pursue a similar strategy in the current fiscal year as we believe we have only begun to unlock the opportunities ahead of us.”