Urban Outfitters Inc., a portfolio of global consumer fashion brands comprised of Anthropologie, Bhldn, Free People, Terrain, Urban Outfitters and Vetri Family brands, has reported net income of US $ 12 million for the three months ended April 30, 2017.
During the period under review, total company net sales were US $ 761 million, flat when compared to the same quarter last year. Comparable retail segment net sales, which include the comparable direct-to-consumer channel, decreased 3.1 per cent.
By brand, comparable retail segment net sales increased 1.5 per cent at Free People, but decreased 3.1 per cent at Urban Outfitters and 4.4 per cent at the Anthropologie Group. Comparable retail segment sales were driven by strong, double-digit growth in the direct-to-consumer channel, which were offset by negative retail store comparable net sales. Wholesale segment net sales increased 14 per cent.
During the three months, the fashion brand opened: 4 Free People stores, 1 Urban Outfitters store, 1 Anthropologie Group store; and closed: 1 Free People store, 1 Urban Outfitters store, and 1 Anthropologie Group store.
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“During the first quarter we continued to see strong double-digit growth from our direct-to-consumer channel and our wholesale business,” said Richard A. Hayne, Chief Executive Officer, adding, “We believe we have significant opportunity to continue to grow both of these channels at all of our brands.”
