Urban Outfitters, Inc. announced net income of $89 million and record third quarter earnings per diluted share of $0.89 for the three months ended October 31, 2021. For the nine months ended October 31, 2021, net income was $270 million and record first nine-month period earnings per diluted share were $2.71. Total Company net sales for the three months ended October 31, 2021, were a record $1.13 billion. Net sales increased 14.6% compared to the three months ended October 31, 2019. Comparable Retail segment net sales increased 14%, driven by strong double-digit growth in digital channel sales, partially offset by mid-single-digit negative retail store sales primarily due to reduced store traffic. By brand, comparable Retail segment net sales increased 55% at the Free People Group, 9% at the Anthropologie Group and 7% at Urban Outfitters. Total Retail segment net sales increased 16%. Wholesale segment net sales decreased 15% primarily from reducing the Free People Group’s sales to promotional wholesale custom ers. For the nine months ended October 31, 2021, total Company net sales increased 14.3% compared to the nine months ended October 31, 2019. Comparable Retail segment net sales increased 16%, driven by strong double-digit growth in digital channel sales, partially offset by low double-digit negative retail store sales due to reduced store traffic resulting from temporary store closures and occupancy restrictions in Europe and Canada. Wholesale segment net sales decreased 23% primarily from reducing the Free People Group’s sales to promotional wholesale customers.
The United States Postal Service (USPS) and its dedicated employees across the nation are ready to deliver another successful holiday season of outstanding service.
“Our 2022 peak season was a tremendous success,” said Postmaster General and CEO Louis DeJoy. “We are ready to deliver for the holidays in a superior and routine manner. We have been planning early and leveraging investments in our people, infrastructure, transportation and technology made possible by the Delivering for America plan. And with no holiday surcharges, we are strongly positioned to be America’s most affordable delivery provider this holiday season.”
In 2022, the Postal Service processed more than 11.7 billion mailpieces and packages during the holiday season. On average, it took just 2.5 days to deliver a mailpiece or package to its intended destination.
Throughout 2023, USPS has maintained even stronger service performance while engaging in numerous transformational initiatives across the organization and the country. Due to the ongoing implementation of the Delivering for America strategic plan, 98% of the nation’s population currently receives their mail and packages in less than three days. With approximately 40% of first-class mail and packages getting delivered a day in advance. That noted, the Postal Service is also working hard to correct service-related issues in limited areas across the nation through hiring initiatives and improving operational efficiency.
The Postal Service also announced it will not levy any additional surcharges for customers this holiday season, offering increased predictability in pricing for customers. There will be no additional fees for residential area delivery, for Saturday delivery or for minimum volumes. USPS will continue to be the most affordable way to mail and ship this holiday season.
more at: https://about.usps.com/newsroom/national-releases/2023/0919-usps-ready-to-deliver-for-america-during-the-holidays.htm