Highlights for the fourth quarter: • Ended 2017 with $71.4 million of cash and cash equivalents as well as $9.1 million of restricted cash; Torstar has no bank indebtedness. • Cash provided by operating activities was $23.6 million in the fourth quarter of 2017 reflecting $31.6 million of cash generated by operating activities partially offset by an $8.1 million increase in working capital. • Our net income from continuing operations was $7.8 million ($0.10 per share) in the fourth quarter of 2017. This compares to net income of $0.7 million ($0.01 per share) in the fourth quarter of 2016. Click Read More below for additional information.
Urban Outfitters, Inc. (NASDAQ:URBN), a leading lifestyle products and services company which operates a portfolio of global consumer brands comprised of Anthropologie, BHLDN, Free People, Terrain, Urban Outfitters and Nuuly brands and the Food and Beverage division, today announced net sales for the two and eleven months ended December 31, 2019.
Total Company net sales for the two months ended December 31, 2019, increased 2.9% over the same period last year. Comparable Retail segment net sales increased 3%, driven by growth in the digital channel, partially offset by negative retail store sales. By brand, comparable Retail segment net sales increased 8% at Free People and 5% at the Anthropologie Group and decreased 1% at Urban Outfitters. Total Retail segment net sales increased 3%. Free People’s exceptional Retail segment performance was driven by strong, full price sales, as the brand was less promotional during the holiday season. Anthropologie and Urban Outfitters businesses were driven in part by increased promotional activity in apparel, which will put greater pressure on our fourth quarter gross profit margin than originally anticipated. Wholesale segment net sales decreased 9% due to an 11% decrease in Free People, which was greater than projected. Lastly, in order to meet customer delivery expectations, we spent more on delivery and logistics expenses than originally planned.
For the eleven months ended December 31, 2019, total Company net sales increased 0.5% over the same period last year. Comparable Retail segment net sales increased 1%, driven by growth in the digital channel, partially offset by negative retail store sales. Total Retail segment net sales increased 1%. Wholesale segment net sales decreased 5%.
During the eleven months ended December 31, 2019, the Company opened a total of 25 new retail locations including: 10 Free People stores, 9 Anthropologie Group stores and 6 Urban Outfitters stores; and closed 7 retail locations including: 3 Anthropologie Group stores, 1 Free People store, 1 Urban Outfitters store and 2 Food and Beverage restaurants. During the eleven months ended December 31, 2019, two franchisee-owned stores were opened including: one Anthropologie Group store and one Urban Outfitters store.