Urban Outfitters (URBN) holiday comparable retail segment net sales increased 3%

Urban Outfitters, Inc. (NASDAQ: URBN), a leading lifestyle products and services company which operates a portfolio of global consumer brands comprised of Anthropologie, BHLDN, Free People, Terrain, Urban Outfitters and Nuuly brands and the Food and Beverage division, today announced net sales for the two and eleven months ended December 31, 2019.

Total Company net sales for the two months ended December 31, 2019, increased 2.9% over the same period last year. Comparable Retail segment net sales increased 3%, driven by growth in the digital channel, partially offset by negative retail store sales. By brand, comparable Retail segment net sales increased 8% at Free People and 5% at the Anthropologie Group and decreased 1% at Urban Outfitters. Total Retail segment net sales increased 3%. Free People’s exceptional Retail segment performance was driven by strong, full price sales, as the brand was less promotional during the holiday season. Anthropologie and Urban Outfitters businesses were driven in part by increased promotional activity in apparel, which will put greater pressure on our fourth quarter gross profit margin than originally anticipated. Wholesale segment net sales decreased 9% due to an 11% decrease in Free People, which was greater than projected. Lastly, in order to meet customer delivery expectations, we spent more on delivery and logistics expenses than originally planned.

For the eleven months ended December 31, 2019, total Company net sales increased 0.5% over the same period last year. Comparable Retail segment net sales increased 1%, driven by growth in the digital channel, partially offset by negative retail store sales. Total Retail segment net sales increased 1%. Wholesale segment net sales decreased 5%.

During the eleven months ended December 31, 2019, the Company opened a total of 25 new retail locations including: 10 Free People stores, 9 Anthropologie Group stores and 6 Urban Outfitters stores; and closed 7 retail locations including: 3 Anthropologie Group stores, 1 Free People store, 1 Urban Outfitters store and 2 Food and Beverage restaurants. During the eleven months ended December 31, 2019, two franchisee-owned stores were opened including: one Anthropologie Group store and one Urban Outfitters store.

Urban Outfitters, Inc., offers lifestyle-oriented general merchandise and consumer products and services through a portfolio of global consumer brands comprised of 250 Urban Outfitters stores in the United States, Canada and Europe and websites; 233 Anthropologie Group stores in the United States, Canada and Europe, catalogs and websites; 144 Free People stores in the United States, Canada and Europe, catalogs and websites, 11 Food and Beverage restaurants, 5 Urban Outfitters franchisee-owned stores, 1 Anthropologie Group franchisee-owned store and 1 Free People franchisee-owned store, as of December 31, 2019. Free People, Anthropologie Group and Urban Outfitters wholesale sell their products through approximately 2,300 department and specialty stores worldwide, digital businesses and the Company’s Retail segment.

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