All round performance by Urban Outfitters' brands in Q3
11 Nov '05
3 min read
Clothing and accessories seller Urban Outfitters Inc announced for the three months ended October 31, 2005, net earnings jumped by 43 percent over the comparable quarter last year to $37.2 million. Third quarter diluted earnings per share rose to a record $0.22 this year versus $0.15 in the prior year.
As stated in their sales release on November 3, 2005, net sales for the quarter increased by 33 percent, to a record $288.8 million.
Fueling this increase over the prior year period was:
- a 13 percent jump in total Company comparable store sales; - a 28 percent increase in the number of stores in operation; - a 32 percent gain in direct-to-consumer sales; - a 109 percent surge in wholesale sales.
Comparable store sales at Urban Outfitters, Anthropologie and Free People were up 19 percent, 7 percent and 21 percent, respectively; or a combined 13 percent versus an 18 percent combined increase during the comparable quarter last year. Sales at new and non-comparable stores totaled $31.7 million for the quarter.
Richard A. Hayne, Chairman and President stated that all of the Brands delivered record performances in the third quarter resulting in 21.0 percent operating income - the highest in the Company's history. They also cleared slower-selling Fall merchandise during the third quarter and have accelerated receipts of Winter/Holiday season merchandise to take advantage of current trends in the business.
So far during November, sales continue to run significantly above our plan so we remain optimistic that this year's Holiday selling period will produce another record quarter.