Urban Outfitters Q4 same-store sales fall short
Urban Outfitters’ total company net sales for the quarter ended January 31, 2019, increased 3.7% $1.13 billion. Total same-store sales rose 3%, missing the 4.5% increase analysts had expected. Comp-sales were driven by double-digit growth in the digital channel, partially offset by negative retail store sales.
By brand, same-store sales rose 4% at Free People, 4% at Urban Outfitters and 2% at the Anthropologie Group. Wholesale segment net sales increased 3%.
“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, CEO.
During the year, the company opened a total of 18 new retail locations including six Free People stores, five Urban Outfitters stores, four Anthropologie Group stores and three Food and Beverage restaurants.
For the full year ended Jan. 31, sales grew 9.3% to $4 billion on the back of an 8% rise in same-store sales.
Urban Outfitters will report fourth-quarter earnings on March 5.
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