Record-setting Q4 for Urban Outfitters

Urban Outfitters Inc. set a record and beat Wall Street expectations with its sales for the fourth quarter and full fiscal year 2014.

Total net sales grew 12% to $1.01 billion from $905.86 million, setting a record for the company. Same-store sales, including direct-to-consumer sales, rose 6%. For the full year, total net sales increased 8% to $3.32 billion, from $3.09 billion, also another record. Same-store sales grew 2%. For both the fourth quarter and full fiscal year, strong growth in the wholesale segment helped push up total net sales.

"I am pleased to announce record 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, CEO. "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.”

Urban Outfitters is a specialty retail company operating under the Anthropologie, Bhldn, Free People, Terrain and Urban Outfitters brands. Philadelphia-based Urban Outfitters, with a distribution center in Gap and an online fulfillment center under construction there, will report its net profits for the quarter and year on March 9.