Urban Outfitters Reports Holiday Sales

Urban Outfitters, Inc. (NASDAQ:URBN), a portfolio of global consumer brands comprised of Anthropologie, Bhldn, Free People, Terrain, Urban Outfitters and Vetri Family brands, today announced net sales for the two and eleven months ended December 31, 2016.

Total Company net sales for the two months ended December 31, 2016, increased by 3% over the same period last year.  Comparable Retail segment net sales, which include our comparable direct-to-consumer channel, increased 1.5%.  By brand, comparable Retail segment net sales increased 3.6% at Urban Outfitters and 2.9% at Free People, but decreased 1.0% at the Anthropologie Group.  The increase in comparable Retail segment sales was driven by strong, double-digit growth in the direct-to-consumer channel, which was partially offset by lower than anticipated retail store comparable net sales.  Wholesale segment net sales decreased by 4% as the prior year period benefitted from late shipments of third quarter bookings.  The Company expects total Company gross margins to deleverage more than previously expected primarily driven by two factors.  First was the larger than expected shift in demand by channel.  This shift, caused by lower store traffic, resulted in lower store sales and required higher promotional activity to boost demand.  The second factor was a larger than anticipated shift in product mix that saw customers respond more favorably to lower margin items and categories.

For the eleven months ended December 31, 2016, total Company net sales increased 3% over the same period last year. Comparable Retail segment net sales increased 1.3%. Wholesale segment net sales increased 12%.

During the eleven months ended December 31, 2016, the Company opened a total of 27 new stores including: 13 Free People stores, 10 Anthropologie Group stores and 4 Urban Outfitters stores; and closed 3 stores including: 1 Free People store, 1 Anthropologie Group store and 1 Urban Outfitters store. During the eleven months ended December 31, 2016, the Company opened 2 new restaurants and acquired 6 Vetri Family restaurants which are included in the Food and Beverage division.
http://investor.urbn.com/phoenix.zhtml?c=115825&p=irol-newsArticle&ID=2234922

Back To Top
×Close search
Search