Home / Knowledge / News / Apparel/Garments / Wholesale sales drive Urban Outfitters Q3FY15 revenues
Wholesale sales drive Urban Outfitters Q3FY15 revenues
19
Nov '14
Driven by wholesale segment sales, revenue at NASDAQ listed, Urban Outfitters, a lifestyle apparel retailer, rose 5 per cent from a year ago quarter for the third quarter of fiscal 2015.

Urban Outfitters said its net sales for the third quarter of fiscal 2015, grew to a record $814 million or 5 per cent over the same quarter last year.

Wholesale segment net sales rose 26 percent year-on-year, while comparable retail segment net sales, which include its comparable direct-to-consumer channel, however, fell 1 per cent.

Comparable retail segment net sales increased 15 per cent at Free People brand and 2 per cent at Anthropologie brand and declined 7 per cent at Urban Outfitters brand.

The retailer reported net income of $47 million and earnings per diluted share of $0.35 for the three months ended October 31, 2014.

For the reporting quarter, gross profit margin declined by 295 basis points versus the prior year's comparable period.

“The deleverage is primarily due to lower initial merchandise mark-up followed by higher markdowns and also from negative store comparable net sales,” Urban Outfitters explained.

As of October 31, 2014, total inventories increased by $60 million, or 15 per cent, on a year-over-year basis, which it attributed to inventory bought to stock new and non-comparable stores.

However, comparable retail segment inventories went up by just 8 per cent at cost while dipping 7 per cent in units.

SG&A expenses as a percentage of net sales surged 128 basis points from the prior year quarter from increased marketing and technology expenses which drove higher direct-to-consumer traffic.

The retailer’s effective tax rate for the third quarter of fiscal 2015 was 37.8 per cent, up from 33.3 per cent in the year ago quarter, mainly due to state tax adjustments.

During the second quarter of fiscal 2015, the Urban Outfitters Board again authorized the repurchase of an additional 10.0 million common shares.

As of October 31, 2014, the apparel retailer repurchased and retired 3.9 million common shares for approximately $132 million under the current authorization.

During the nine months ended October 31, 2014, Urban Outfitters opened 29 new stores including; 12 Free People stores, 10 Anthropologie stores and 7 Urban Outfitters stores and closed 1 Urban Outfitters store.

"While we are pleased with delivering record third quarter sales fuelled by strong performances at our Anthropologie and Free People brands, I am disappointed by the results at the Urban Outfitters brand," said CEO, Richard Hayne.

Fibre2fashion News Desk - India


Must ReadView All

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Kerem Durdag
Biovation II LLC

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Silvia Venturini Fendi
Fendi s.r.l

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

Leave your Comments


April 2018

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
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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