- Prachi Singh |
Urban Outfitters net sales for the fourth quarter of fiscal 2018 increased 5.7 percent over the same period last year to 1.09 billion dollars. The company said, comparable retail segment net sales increased 4 percent, driven by strong, double-digit growth in the direct-to-consumer channel, partially offset by negative retail store sales. For the year ended January 31, 2018, net sales increased to 3.6 billion dollars or 2 percent over the prior year, while comparable Retail segment net sales were flat.
“I’m pleased to report record revenues and a 4 percent increase in retail segment comparable sales for our fourth quarter,” said Richard A. Hayne, the company’s Chief Executive Officer in a media statement, adding, “Positive ‘comps’ were driven primarily by stronger apparel sales with January registering particularly powerful year-over-year results.”
By brand, comparable Retail segment net sales increased 8 percent at Free People, 5 percent at the Anthropologie Group and 2 percent at Urban Outfitters. Wholesale segment net sales increased 6.3 percent. Wholesale segment net sales for the full year increased 9.5 percent.
During the year under review, the company opened a total of 18 new locations including: eight Free People stores, five Urban Outfitters stores, four Anthropologie Group stores and one food and beverage restaurant; and closed 11 locations including three Free People stores, two Urban Outfitters stores, three Anthropologie Group stores and three food and beverage restaurants.
Picture:Free People website