Home / Knowledge / News / Apparel/Garments / Urban Outfitters FY16 net income down 3.41%
Urban Outfitters FY16 net income down 3.41%
Mar '16
Courtesy: Urban Outfitters
Courtesy: Urban Outfitters
Urban Outfitters, a US based lifestyle retailing company, reported a fall of 3.41 per cent to $224.48 million in its net income in the fiscal 2016, ending on January 31, as compared to $232.42 million in the fiscal 2015, according to a press statement released by the company.

As a per cent of net sales, the net income for FY16 was 6.5 per cent as compared to 7 per cent in FY15, ending on January 31, 2015.

The net sales, however, recorded for the twelve month period of FY16 was $3,445.13 million as compared to $3,323.07 million in FY15, a rise of 3.67 per cent.

Commenting on the results, Richard Hayne, chairman, president and CEO of the company said in the Q4 earnings conference call, “Fashion retailers had a difficult 2015. It is relatively easy to list the many headwinds that might have caused such a phenomenon: anemic growth, stagnant household incomes, increased spending on non-discretionary items, increased competition from newer retailers – both traditional and online, stiff deflationary pressures and increased competition from trending categories like electronics and dining out.”

“The last major fashion shift was ten years ago, when the skinny bottom returned to popularity,” he added. “Since then, we have had all varieties of skinny: low-rise, high-rise, colour, black, white and print; washed, sanded, sliced and destroyed; yoga and active; leggings, jeggings and stretch.”

“Today, the customer has a closet full of various skinny bottoms and she has many, many long tops and sweaters to go over them. Without fashion need to drive her purchases, the customer can easily defer her apparel spend,” he opined.

A major fashion shift is the solution to the declining income from apparel sales, according to him. He is certain that the change will come, though cannot predict when.

He also said that the company will continue to make investments in infrastructure, marketing and technology for increased direct and omni-channel sales. (MCJ)

Fibre2Fashion News Desk – India

Must ReadView All

Apparel/Garments | On 26th Oct 2016

SGS develops 4C chemical management model for apparel

SGS, a leading inspection, auditing, certification, testing, and...

Textiles | On 26th Oct 2016

Platinum Equity acquires International Textile Group

International Textile Group (ITG) has been acquired by Platinum...

Textiles | On 26th Oct 2016

Whitehouse & URI Business Centre start RI textile network

Senator Sheldon Whitehouse and the University of Rhode Island...

Interviews View All

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Kevin Nelson

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

Johan Berlin
InvestKonsult Sweden AB

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Igor Chapurin

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Robert Brunner

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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