Business
URBN Reports Record Q4 Sales
PHILADELPHIA, Feb. 11, 2020 (GLOBE NEWSWIRE) -- Urban Outfitters, Inc. (NASDAQ:URBN), a leading lifestyle products and services company which operates a
About this update from Urban Outfitters, Inc.
[{"type":"text","content":"PHILADELPHIA, Feb. 11, 2020 (GLOBE NEWSWIRE) -- 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.\n 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. Net sales by brand and segment for the three and twelve-month periods were as follows: Three Months Ended Twelve Months Ended January 31, January 31, 2020 2019 2020 2019 Net sales by brand Anthropologie Group$491,146 $464,609 $1,639,123 $1,598,000 Urban Outfitters 449,939 447,525 1,496,249 1,528,717 Free People 215,765 209,315 813,371 799,205 Food and Beverage 6,759 7,499 27,045 24,701 Nuuly 5,969 — 8,001 — Total Company$1,169,578 $1,128,948 $3,983,789 $3,950,623 Net sales by segment Retail Segment$1,090,552 $1,047,710 $3,648,938 $3,604,170 Wholesale Segment 73,057 81,238 326,850 346,453 Subscription Segment 5,969 — 8,001 — Total Company$1,169,578 $1,128,948 $3,983,789 $3,950,623 During the year ended January 31, 2020, the Company opened a total of 26 new retail locations including: 10 Free People stores, 9 Anthropologie Group stores and 7 Urban Outfitters stores; and closed 12 retail locations including: 5 Anthropologie Group stores, 1 Free People store, 4 Urban Outfitters store and 2 Food and Beverage restaurants. D...