- Urban Outfitters posts Q4 comparable sales growth of 3.7 percent
Urban Outfitters posts Q4 comparable sales growth of 3.7 percent
by Prachi Singh
Urban Outfitters, Inc. said in a statement that total company net sales for the three months ended January 31, 2019 increased 3.7 percent over the same period last year to 1.13 billion dollars, while comparable retail segment net sales increased 3 percent, driven by double-digit growth in the digital channel, partially offset by negative retail store sales. By brand, comparable Retail segment net sales increased 4 percent at Free People, 4 percent at Urban Outfitters and 2 percent at the Anthropologie Group. Wholesale segment net sales increased 3 percent.
“I’m pleased to report record fourth quarter revenues and the sixth consecutive quarter all brands delivered positive retail segment ‘comps’,” said Richard A. Hayne, the company’s Chief Executive Officer.
For the year ended January 31, 2019, total company net sales increased to 4 billion dollars or 9.3 percent over the prior year. The company added that comparable retail segment net sales increased 8 percent, driven by double-digit growth in the digital channel and positive retail store sales. Wholesale segment net sales increased 10 percent.
During the year, the company opened a total of 18 new retail locations including six Free People stores, five Urban Outfitters stores, four Anthropologie Group stores and three Food and Beverage restaurants; and closed 11 retail locations including: five Urban Outfitters stores, three Anthropologie Group stores and three Free People stores. During the year five franchisee-owned stores were opened including: four Urban Outfitters stores and one Free People store.