Urban Outfitters, Inc. announced net income of $29 million and $1 million for the three months and year ended January 31, 2021, respectively. Total Company net sales for the three months ended January 31, 2021, decreased 6.9% over the same period last year to $1.09 billion. Comparable Retail segment net sales decreased 7% due to negative retail store net sales as stronger conversion rates could not offset the reduced store traffic caused by the coronavirus pandemic and related occupancy restrictions. Lower store net sales were partially offset by strong double-digit growth in digital channel sales. By brand, comparable Retail segment net sales increased 6% at Free People and decreased 6% at Urban Outfitters and 11% at the Anthropologie Group. Wholesale segment net sales decreased 7%. For the year ended January 31, 2021, total Company net sales decreased 13.4% over the same period last year. Comparable Retail segment net sales decreased 11%, driven by negative retail store net sales due to mandated store closures as a result of the coronavirus pandemic and lower store productivity once opened, partially offset by strong double-digit growth in digital channel sales. Wholesale segment net sales decreased 40%.
Adobe (Nasdaq:ADBE) announced the latest online inflation data from the Adobe Digital Price Index (DPI), powered by Adobe Analytics. Online prices in August 2023 fell 3.2% year-over-year (YoY), hitting a 40-month low—and marking a full year (12 consecutive months) of YoY price decreases. Online prices fell for over half of Adobe’s tracked categories (11 of 18) on an annual basis. On a month-over-month (MoM) basis, online prices rose 0.4% in August following the Prime Day event in July, now an industrywide e-commerce moment with heavy discounting across different retailers.
August’s YoY price decline was driven by notable drops in categories such as sporting goods (down 7% YoY, down 1.4% MoM), appliances (down 7.3% YoY, up 1.3% MoM) and home/garden (down 6.8% YoY, up 0.2% MoM). Electronics saw a steeper decline, falling 11.6% YoY (down 0.8% MoM), as well as computers which fell 14.2% YoY (down 1% MoM).
Although inflation continues to impact grocery prices, YoY increases have now slowed for 11 consecutive months; Online prices were up 5% YoY in August, a smaller jump compared with July 2023’s 6.3% YoY and June 2023’s 7.6% YoY increases. Grocery prices were down 0.2% MoM, the first monthly decrease in this category since May 2021, a positive sign after 27 consecutive months. Price increases have slowed for pet products as well: prices were up 5.5% YoY (up 0.1% MoM), compared with a 6.3% YoY increase in July 2023, and an even more substantial 8.1% YoY increase in June 2023.
more at: https://news.adobe.com/news/news-details/2023/Media-Alert-Adobe-Digital-Price-Index-Online-Prices-Fall-to-40-Month-Low-Down-3.2-In-August/default.aspx