March 7, 2016
PHILADELPHIA, PA, March 7, 2016 - Urban Outfitters, Inc. (NASDAQ:URBN), a leading lifestyle specialty retail company operating under the Anthropologie, Bhldn, Free People, Terrain and Urban Outfitters brands, today announced net income of $73 million and $224 million for the three months and year ended January 31, 2016, respectively. Earnings per diluted share were $0.61 and $1.78 for the three months and year ended January 31, 2016, respectively.
Total Company net sales for the fourth quarter of fiscal 2016 were flat at $1.01 billion compared to the same quarter last year. Comparable Retail segment net sales, which include our comparable direct-to-consumer channel, decreased 2%. Comparable Retail segment net sales increased 2% at Free People and decreased 2% at the Anthropologie Group and 3% at Urban Outfitters. Wholesale segment net sales increased 29% partially due to delayed shipments from the third quarter carrying over into the fourth quarter.
For the year ended January 31, 2016, total Company net sales increased to $3.4 billion or 4% over the prior year. Comparable Retail segment net sales increased 2%. Wholesale segment net sales increased 15%.
"While apparel sales underperformed during the fourth quarter, I am pleased with the merchandise margin improvement delivered by the brands," said Richard A. Hayne, Chief Executive Officer. "Additionally, our expansion categories performed above our expectations and continue to give us confidence in our future growth opportunities," finished Mr. Hayne.
Read the full news release here.