Cabela’s Incorporated (NYSE:CAB) announced today that its Board of Directors has approved a share repurchase program authorizing the Company to repurchase up to $500 million of its common stock over a two-year period. This authorization is in addition to the two million share repurchase authorization approved in April 2015 and the standing annual authorization to repurchase shares to offset dilution resulting from equity-based awards issued under the Company’s equity compensation plans. The Company has completed its repurchases under the April 2015 authorization.
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 and Urban Outfitters brands and the Food and Beverage division, today announced net sales for the two and eleven months ended December 31, 2018.
Total Company net sales for the two months ended December 31, 2018, increased 5.0% over the same period last year. Comparable Retail segment net sales increased 5%, driven by strong, double-digit growth in the digital channel, partially offset by negative retail store sales. By brand, comparable Retail segment net sales increased 6% at Free People, 5% at Urban Outfitters and 4% at the Anthropologie Group. Wholesale segment net sales increased 3%.
For the eleven months ended December 31, 2018, total Company net sales increased 10.0% over the same period last year. Comparable Retail segment net sales increased 9%, driven by strong, double-digit growth in the digital channel and positive retail store sales. Wholesale segment net sales increased 10%.
During the eleven months ended December 31, 2018, the Company opened a total of 17 new retail locations including: 5 Urban Outfitters stores, 5 Free People stores, 4 Anthropologie Group stores and 3 Food and Beverage restaurants; and closed 4 retail locations including: 2 Anthropologie Group stores, 1 Urban Outfitters store and 1 Free People store. During the eleven months ended December 31, 2018, 4 franchisee-owned Urban Outfitters stores were opened.