Urban Outfitters: Q3 net sales rise by 3.5 percent

Urban Outfitters reported net income of 45 million dollars and 107 million dollars for the three and nine months ended October 31, 2017, against 47 million dollars and 154 million dollars, respectively. Earnings per diluted share were 0.41 dollar and 0.94 dollar for the three and nine months ended October 31, 2017, against 0.40 and 1.31 dollars, respectively. Total company net sales for the third quarter increased 3.5 percent to 893 million dollars.

“I am pleased to announce record third quarter sales, positive retail segment comps at all three brands and another strong performance from Free People wholesale,” said the company’s Richard A. Hayne, Chief Executive Officer in a media release, adding, “Record sales were driven by improved apparel execution across all channels and brands.”

Comparable retail sales rise 1 percent

Comparable retail segment net sales, which include the comparable direct-to-consumer channel, increased 1 percent in the third quarter. The company said, excluding the estimated impact of the North American hurricanes in the quarter, comparable retail segment net sales increased 2 percent, and by brand, comparable retail segment net sales increased 5 percent at Free People, 2 percent at the Anthropologie Group and 1 percent at Urban Outfitters.

The company added that comparable retail segment sales were driven by strong, double-digit growth in the direct-to-consumer channel, partially offset by negative retail store sales. Wholesale segment net sales increased 8.7 percent.

During the nine months ended October 31, 2017, the Company opened a total of 16 new locations including: eight Free People stores, four Urban Outfitters stores, three Anthropologie Group stores and one food and beverage restaurant; and closed six locations including: three Free People stores, one Urban Outfitters store, one Anthropologie Group store and one food and beverage restaurant.

Picture:Free People website