The net sales of Urban Outfitters, Inc., a leading lifestyle products and services company which operates a portfolio of global consumer brands, for Q4 of 2018 increased 5.7 per cent over the same period last year to $1.09 billion. Comparable retail segment net sales rose 4 per cent, driven by strong, double-digit growth in the direct-to-consumer channel.

By brand, comparable retail segment net sales increased 8 per cent at Free People, 5 per cent at the Anthropologie Group and 2 per cent at Urban Outfitters. Wholesale segment net sales went up 6.3 per cent.

For the year ended January 31, 2018, total company net sales increased to $3.6 billion or 2.0 per cent over the prior year. Comparable retail segment net sales were flat. Wholesale segment net sales increased 9.5 per cent.

"I’m pleased to report record revenues and a 4 per cent increase in retail segment comparable sales for our fourth quarter," said Richard A Hayne, chief executive officer. "Positive ‘comps’ were driven primarily by stronger apparel sales with January registering particularly powerful year-over-year results," said Hayne.

During the year, the company opened a total of 18 new locations including 8 Free People stores, 5 Urban Outfitters stores, 4 Anthropologie Group stores and closed 11 locations including 3 Free People stores, 2 Urban Outfitters stores, 3 Anthropologie Group stores. (RR)

Fibre2Fashion News Desk – India

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