Home / Knowledge / News / Apparel/Garments / Urban Outfitters sales hit record highs in Q2FY15
Urban Outfitters sales hit record highs in Q2FY15
19
Aug '14
Driven by strong performances at its Anthropologie and Free People brands, NASDAQ-listed Urban Outfitters, Inc., a garment retailer was able to post record sales in the fiscal quarter ending July 31, 2014.

Net sales for the second quarter of fiscal 2015 rose to a record $811 million or 7% over the same quarter, last year. Comparable retail net sales, which include its direct-to-consumer channel, were flat.

Comparable retail segment net sales increased 21% at Free People and 6% at the Anthropologie Group and decreased 10% at Urban Outfitters, while wholesale segment net sales rose 36%, Urban Outfitters said in a press release.

For the three months ended July 31, 2014, gross profit rate declined by 194 basis points versus the prior year's comparable period. The retailer said the decline in gross profit rate was primarily driven by underperformance at the Urban Outfitters brand.

Urban Outfitters reported net income of $68 million and earnings per diluted share of $0.49 in the second quarter of 2015.

As of July 31, 2014, total inventories increased by $15 million or 4% year-on-year. Urban Outfitters attributed the growth in inventories to the acquisition of inventory to stock new and non-comparable stores.

For the three months ended July 31, 2014, selling, general and administrative (SG&A) expenses, expressed as a percentage of net sales, increased by 83 basis points, compared to the prior year's comparable period.

The increase in SG&A expense was primarily due to increased marketing and technology expenses which drove higher direct-to-consumer traffic, Urban Outfitters said.

The Company's effective tax rate for the second quarter of fiscal 2015 was 35.5% compared to 36.1% in the prior year's comparable period.

"We are pleased to announce record second quarter sales driven by strong performances at our Anthropologie and Free People brands," CEO Richard Hayne said.

"This achievement is a testament to the strength and validity of our model and to the ability of our talented teams to create powerful lifestyle brands, through compelling product, imagery and experiences," he added.

During the second quarter of fiscal 2015, Urban Outfitters repurchased and retired 3.7 million common shares for approximately $126 million, leaving 6.3 million shares available for repurchase under the current authorization.

Fibre2fashion News Desk - India


Must ReadView All

UK retail firms urge Hammond to ease business rates burden

Textiles | On 20th Nov 2017

UK retail firms urge Hammond to ease business rates burden

Top British retail company CEOs have urged UK finance minister...

L-R: Surya Ajay Agarwal (Director - Donear), Vikram Mahaldar (MD - OCM) & Rahul Rajendra Agarwal (Director - Donear)

Textiles | On 20th Nov 2017

Promoters of Donear Group acquire OCM Woolen Mills

The promoters of Mumbai-based Donear Group have announced the...

Courtesy: Cornell

Textiles | On 20th Nov 2017

Cornell’s tech allows customisation of woven fabrics

Cornell Professor Steve Marschner and Rhode Island School of Design...

Interviews View All

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search