Torstar Corporation announced it has, through one of its subsidiaries, signed an agreement to purchase assets of iPolitics Inc., a leading Ottawa-based digital political news outlet. The transaction is subject to the satisfaction or waiver of customary closing conditions, including the receipt of certain consents, and is expected to close on or about October 1, 2018. Following closing, Torstar daily newspapers and websites across the country will soon begin publishing articles from iPolitics, a non-partisan media organization that provides its subscribers with breaking news and in-depth policy analysis of federal and provincial politics, regulatory affairs and key industries. 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