Q2FY17 sales at apparel marketer Urban Outfitters up 3%

19 Aug '16

1 min read

Net sales for the three months ended July 31, 2016 at multi brand apparel marketer Urban Outfitters rose 3 per cent over the previous fiscal's same quarter to a record $891 million.

For the second quarter of fiscal 2017, comparable retail segment net sales, which includes comparable direct-to-consumer channel grew 1 per cent year on year, while wholesale segment increased 4 per cent.

Brand wise, comparable retail segment net sales climbed 5 per cent at Urban Outfitters, were flat at Free People, and dropped 3 per cent at the Anthropologie Group in the reporting quarter.

Gross margin in the quarter under review rose 179 basis points over the prior fiscal's second quarter, driven by improvement in margins in the Urban Outfitters and Anthropologie Group brands.

Net income totaled $77 million or $0.66 earnings per diluted share for the three months ended July 31.

CEO Richard Hayne said, "These results were driven by a positive retail segment comparable and substantial improvement in merchandise margins." (AR)

Fibre2Fashion News Desk – India

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