Urban Outfitters Inc., a portfolio of global consumer fashion brands comprised of Anthropologie, Bhldn, Free People, Terrain, Urban Outfitters and Vetri Family, has announced the financial results for the first quarter ended April 30, 2018.
During the quarter under review, Urban Outfitters reported a net income of US $ 41.3 million as against US $ 11 million in the corresponding period of last year.
Total company net sales witnessed an increase of 12.4 per cent to a record US $ 856 million in the reporting quarter. Strong double-digit growth in the digital channel and positive retail store sales helped it to note 10 per cent increase in comparable retail segment.
Brand-wise, the company reported a 15 per cent, 10 per cent and 8 per cent increase in net sales for Free People, Anthropologie Group and Urban Outfitters brands, respectively, during the quarter under review.
The brand is also excited to note a 280 per cent jump in the first quarter EPS (earnings per share) due to strong sales, healthy margin improvement, SG&A leverage and a lower tax rate.
During the said period, Urban Outfitters opened stores at four new locations including: two Free People stores and two Urban Outfitters stores; and closed one Urban Outfitters store.
Presently, the retailer operates around 250 Urban Outfitters stores in the US, Canada and Europe; 226 Anthropologie stores; and 134 Free People stores.
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