Urban Outfitters Reports Record Q4 Sales
February 07 2017 - 4:05PM
PHILADELPHIA, PA, February 7, 2017
- Urban Outfitters, Inc. (NASDAQ:URBN), a portfolio of global
consumer brands comprised of Anthropologie, Bhldn, Free People,
Terrain and Urban Outfitters brands and our Food and Beverage
division, today announced net sales for the quarter and year ended
January 31, 2017.
Total Company net sales for the fourth quarter of
fiscal 2017 increased 2% over the same quarter last year to a
record $1.03 billion. Comparable Retail segment net sales, which
include our comparable direct-to-consumer channel, were flat. By
brand, comparable Retail segment net sales increased 2.0% at Urban
Outfitters and 1.2% at Free People, but decreased 2.9% at the
Anthropologie Group. Comparable Retail segment sales were driven by
strong, double-digit growth in the direct-to-consumer channel,
which were offset by lower retail store comparable net sales.
Wholesale segment net sales decreased by 1%, as the prior year
period benefitted from late shipments of third quarter
bookings.
For the year ended January 31,
2017, total company net sales increased to $3.5 billion or 3% over
the prior year. Comparable Retail segment net sales increased
1%. Wholesale segment net sales increased 11%.
"We are pleased to announce record
fourth quarter and fiscal year 2017 revenues," said Richard A.
Hayne, Chief Executive Officer.
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, |
Net sales by brand |
2017 |
|
2016 |
|
2017 |
|
2016 |
Urban
Outfitters |
$ 413,799 |
|
$ 415,448 |
|
$ 1,414,996 |
|
$ 1,392,040 |
Anthropologie Group |
423,985 |
|
417,723 |
|
1,445,395 |
|
1,437,141 |
Free
People |
186,346 |
|
178,482 |
|
662,726 |
|
609,552 |
Food and
Beverage |
6,028 |
|
1,753 |
|
22,677 |
|
6,401 |
Total
Company |
$ 1,030,158 |
|
$ 1,013,406 |
|
$ 3,545,794 |
|
$ 3,445,134 |
|
|
|
|
|
|
|
|
Net sales by segment |
|
|
|
|
|
|
|
Retail
segment |
$ 955,909 |
|
$ 938,681 |
|
$ 3,256,890 |
|
$ 3,184,955 |
Wholesale
segment |
74,249 |
|
74,725 |
|
288,904 |
|
260,179 |
Total
Company |
$ 1,030,158 |
|
$ 1,013,406 |
|
$ 3,545,794 |
|
$ 3,445,134 |
During the year ended January 31, 2017, the
Company opened a total of 29 new stores including: 15 Free People
stores, 10 Anthropologie Group stores and 4 Urban Outfitters
stores; and closed 7 stores including: 3 Anthropologie Group
stores, 2 Free People stores and 2 Urban Outfitters stores. During
the year ended January 31, 2017, the Company opened 2 net new
restaurants and acquired 6 Vetri Family restaurants, which are
included in the Food and Beverage division.
Urban Outfitters, Inc. is a
portfolio of global consumer brands which offers a variety of
lifestyle merchandise and consumer products to highly defined
customer niches through 242 Urban Outfitters stores in the United
States, Canada, and Europe, and websites; 225 Anthropologie Group
stores in the United States, Canada and Europe, catalogs and
websites; 127 Free People stores in the United States and Canada,
catalogs and websites; Free People wholesale, which sells its
product to approximately 1,900 specialty stores and select
department stores worldwide; and 12 Food and Beverage restaurants,
as of January 31, 2017.
The Company will release fourth quarter and fiscal
year 2017 earnings results on March 7, 2017.
This news release
is being made pursuant to the "safe harbor" provisions of the
Private Securities Litigation Reform Act of 1995. Certain matters contained in this release may
constitute forward-looking statements. When used in this release,
the words "project," "believe," "plan," "will," "anticipate,"
"expect" and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Any one, or all, of the
following factors could cause actual financial results to differ
materially from those financial results mentioned in the
forward-looking statements: the difficulty in predicting and
responding to shifts in fashion trends, changes in the level of
competitive pricing and promotional activity and other industry
factors, overall economic and market conditions and the resultant
impact on consumer spending patterns, lowered levels of consumer
confidence and higher levels of unemployment, continuation of
lowered levels of consumer spending resulting from a worldwide
political and economic crisis, any effects of terrorist acts or
war, natural disasters or severe weather conditions, availability
of suitable retail space for expansion, timing of store openings,
risks associated with international expansion, seasonal
fluctuations in gross sales, the departure of one or more key
senior executives, import risks, including potential disruptions
and changes in duties, tariffs and quotas, the closing of any of
our distribution centers, our ability to protect our intellectual
property rights, risks associated with internet sales, response to
new store concepts, failure of our manufacturers to comply with our
social compliance program, changes in accounting standards and
subjective assumptions, regulatory changes and legal matters and
other risks identified in the Company's filings with the Securities
and Exchange Commission. The Company disclaims any intent or
obligation to update forward-looking statements even if experience
or future changes make it clear that actual results may differ
materially from any projected results expressed or implied
therein.
###
CONTACT:
Oona McCullough
Director of Investor Relations
(215) 454-4806
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Urban Outfitters via Globenewswire
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