Home / Knowledge / News / Apparel/Garments / Urban Outfitters sales hit record highs in Q2FY15
Urban Outfitters sales hit record highs in Q2FY15
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

Union textiles minister Smriti Irani addressing at the Texprocil Annual Export Awards. Courtesy: PIB

Textiles | On 22nd Oct 2016

Govt to extend special package to home textiles segment

The Central government is likely to extend the recently approved Rs...

Reebok Liquid Speed Grey. Courtesy: Business Wire

Apparel/Garments | On 22nd Oct 2016

Reebok’s Liquid Factory brings sneaker creation to US

Reebok, a pioneer in the sporting goods industry, has brought sneaker ...

Courtesy: GHCL

Textiles | On 22nd Oct 2016

GHCL to invest Rs 67.25 crore in textile division

Chemicals and textiles firm GHCL will invest Rs 67.25 crore in its...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Marcel Alberts

Coating at a fibre level is a practice not usually seen in the...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search