Urban Outfitters (URBN) Q4 Comps Rose 6%; Sales Outpace Expectations

Urban Outfitters (NASDAQ: URBN) announced record net sales for the quarter and year ended January 31, 2015.

Total Company net sales for the fourth quarter of fiscal 2015 increased to $1.01 billion or 12% over the same quarter last year. Comparable Retail segment net sales, which include our comparable direct-to-consumer channel, increased 6%. Comparable Retail segment net sales increased 18% at Free People, 6% at the Anthropologie Group and 4% at Urban Outfitters. Wholesale segment net sales rose 21%.

*** The Street was looking for Q4 sales of $998 million.

For the year ended January 31, 2015, total Company net sales increased to $3.3 billion or 8% over the prior year. Comparable Retail segment net sales increased 2%. Wholesale segment net sales increased 27%.

"I am pleased to announce record URBN sales for the fourth quarter of fiscal 2015 driven by positive comps at each of our brands with the direct-to-consumer channel continuing to outpace store sales," said Richard A. Hayne, Chief Executive Officer. "Although promotional activity was higher than planned, we are entering the spring selling season in a clean inventory position, and we are encouraged by the steady progress the Urban Outfitters brand is making in re-engaging its core customer," finished Mr. Hayne.

Net sales by brand and segment for the three and twelve month periods were as follows:

During the year ended January 31, 2015, the Company opened a total of 38 new stores including: 15 Anthropologie Group stores, 12 Free People stores, and 11 Urban Outfitters stores. The Company closed 3 Urban Outfitters stores due to lease expirations.

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