The Syracuse New Times newspaper announced this week that after 50 years in publication, they will print their final edition June 26. Publisher Bill Brod announced a change in March from a free delivery model to a subscription and newsstand sales business model due to declining print advertising revenue and market pressure from the technology sector. The new subscription model gave readers an option to continue receiving the Syracuse New Times, delivered directly to their homes and businesses. "Initially subscription sign-ups took off, but have since flattened out, while newsstands and over the counter sales at over 330 locations have remained modest at best," Brod said. "It has become clear that our other niche publications, including our parenting publication and our association journals, would be better served by redeploying our human capital and financial resources to focus on these publications." 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 and Urban Outfitters brands and the Food and Beverage division, today announced net sales for the three months and year ended January 31, 2019.
Total Company net sales for the three months ended January 31, 2019 increased 3.7% over the same period last year to a record $1.13 billion. Comparable Retail segment net sales increased 3%, driven by double-digit growth in the digital channel, partially offset by negative retail store sales. By brand, comparable Retail segment net sales increased 4% at Free People, 4% at Urban Outfitters and 2% at the Anthropologie Group. Wholesale segment net sales increased 3%.
For the year ended January 31, 2019, total Company net sales increased to $4.0 billion or 9.3% over the prior year. Comparable Retail segment net sales increased 8%, driven by double-digit growth in the digital channel and positive retail store sales. Wholesale segment net sales increased 10%.
“I’m pleased to report record fourth quarter revenues and the sixth consecutive quarter all brands delivered positive Retail segment ‘comps’,” said Richard A. Hayne, Chief Executive Officer. “Positive ‘comps’ were driven by double-digit growth in digital channel revenues,” finished Mr. Hayne.
During the year ended January 31, 2019, the Company opened a total of 18 new retail locations including: 6 Free People stores, 5 Urban Outfitters stores, 4 Anthropologie Group stores and 3 Food and Beverage restaurants; and closed 11 retail locations including: 5 Urban Outfitters stores, 3 Anthropologie Group stores and 3 Free People stores. During the year ended January 31, 2019, 5 franchisee-owned stores were opened including: 4 Urban Outfitters stores and 1 Free People store.
more details at: http://investor.urbn.com/news-releases/news-release-details/urbn-reports-record-q4-sales