Bauer Media is to unite its UK magazine operations under the leadership of Paul Keenan, who will be responsible for all of Bauer’s UK and Nordic magazine, radio and digital operations, with immediate effect. With some 94 magazine brands reaching 8.9 million people in the UK, Bauer Media is the leading UK publisher. David Goodchild, currently the CEO of H Bauer Publishing, has decided to pursue opportunities outside of the group and will be leaving us on the 13th May. Says Andreas Schoo, Executive Board Member, Bauer Media Group, “To increase our growth, operational performance and competitiveness we have decided to consolidate our UK and Nordic operations, under the leadership of Paul. This will strengthen our business for the future and enable us to seize new opportunities in these key territories.
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 three months and year ended January 31, 2020.
Total Company net sales for the three months ended January 31, 2020, increased 3.6% over the same period last year to a record $1.17 billion. Comparable Retail segment net sales increased 4%, driven by growth in the digital channel, partially offset by negative retail store sales. By brand, comparable Retail segment net sales increased 9% at Free People, 6% at the Anthropologie Group and were flat at Urban Outfitters. Total Retail segment net sales increased 4%. Wholesale segment net sales decreased 10% due to a 12% decrease in Free People.
“I am pleased to report record fourth quarter revenues, driven largely by a 4% increase in Retail segment comparable sales,” said Richard A. Hayne, Chief Executive Officer. “Promotional activity was higher than planned which was necessary to ensure ending Retail segment inventories were clean at all three brands leaving them well positioned entering the spring season,” finished Mr. Hayne.