Urban Outfitters (URBN) Holiday Comps Fell 2%

Urban Outfitters, Inc. (URBN) said net sales for the two months were flat over the same period 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 Urban Outfitters and the Anthropologie Group, respectively. Wholesale segment net sales increased 40% partially due to delayed shipments from the third quarter carrying over into the fourth quarter. The Company is now current on all Wholesale segment shipments and does not anticipate any further delays.

"We continued to experience strong direct-to-consumer growth at all our Brands during this Holiday season," said Richard A. Hayne, Chief Executive Officer. "These gains were offset by weaker store sales which we believe was driven by declining store traffic. Highly effective inventory management by our merchant teams will leave us with clean inventories heading into the spring season," finished Mr. Hayne.

For the eleven months ended December 31, 2015, total Company net sales increased 4% over the same period last year. Comparable Retail segment net sales increased 2%. Wholesale segment net sales increased 15%.

During the eleven months ended December 31, 2015, the Company opened a total of 29 new stores including: 13 Anthropologie stores, 12 Free People stores, and 4 Urban Outfitters stores; and closed 2 Urban Outfitters stores and 1 Free People store.

You May Also Be Interested In

• Boeing names Ryan Shedd as new SVP and controller
• GE Vernova unveils medium-voltage power supply for data centers
• Sigma Lithium resumes full operations after signing TAC agreement