Urban Outfitters posts double-digital sales growth in online channel

Urban Outfitters Inc. ended its fiscal year more or less on target.



The retailer on Tuesday reported net income of $64.3 million, or 55 cents a share, just one cent shy of analysts’ estimates, and down from $72.9 million, or 61 cents a share, in the year ago period.



Total net sales rose 2% to $1.03 billion, matching Street forecasts.



Urban Outfitters’ same-store net sales, which include the direct-to-consumer channel, were flat. Sales were driven by strong, double-digit growth in the direct-to-consumer channel, which were offset by negative retail store comparable sales.



By brand, same-store sales increased 2.0% at Urban Outfitters and 1.2% at Free People, but decreased 2.9% at the Anthropologie Group.



For the year ended January 31, 2017, total company net sales increased to $3.5 billion or 3% over the prior year. Comparable Retail segment net sales increased 1%. Wholesale segment net sales increased 11%.



“We are pleased to announce record fourth quarter and full year sales driven mostly by the continued success in the direct-to-consumer channel,” said Richard A. Hayne, CEO. “As we enter a new year, we will continue to shift our efforts and spend into our fastest growing channel.”



For the year, the company reported profit of $218.1 million, or $1.86 per share. Revenue was reported as $3.55 billion.



As of year-end, Urban Outfitters approximately 1,900 stores worldwide, under its namesake brand along with its Anthropologie and Free People banners, and 12 restaurants in the United States, Canada, and Europe.