Welcome to our dedicated page for Urban Outfitters news (Ticker: URBN), a resource for investors and traders seeking the latest updates and insights on Urban Outfitters stock.
Urban Outfitters Inc (URBN) is a Philadelphia-based apparel and home goods retailer founded in 1970. The company operates more than 700 stores globally, including prominent retail brands such as Urban Outfitters, Anthropologie, Free People, FP Movement, and BHLDN. Established by Dick Hayne and Scott Belair, the company initially focused on providing second-hand clothing, furniture, and home décor in a casual, fun environment across the street from the University of Pennsylvania.
Over the years, Urban Outfitters Inc has expanded its product offerings and now includes a diverse range of categories, such as apparel, home goods, accessories, and more. As of fiscal 2024, the company generated 91% of its revenue from retail operations, with apparel making up 66% of sales, home goods 16%, and accessories 13%. Additionally, URBN has ventured into wholesale operations, restaurants, and clothing rental and resale services through its Nuuly brand.
Urban Outfitters Inc is known for creating unique retail experiences that emphasize creativity and customer satisfaction. The company’s mission and values reflect its commitment to providing inspirational and innovative shopping environments. Recent achievements include expanding its e-commerce presence, enhancing its sustainability initiatives, and forming strategic partnerships to diversify its product lines and customer base.
Financially, Urban Outfitters Inc aims to maintain robust performance by adapting to market trends and consumer preferences. With a strong focus on young adults, the company continuously strives to offer trendy and high-quality products to meet the evolving demands of its target audience.
Urban Outfitters (NASDAQ:URBN) reported record third quarter results with net income of $102.9 million and EPS of $1.10. Total company net sales increased 6.3% to $1.36 billion. Anthropologie and Free People showed positive comparable sales growth of 5.8% and 5.3% respectively, while Urban Outfitters decreased by 8.9%. The Nuuly segment demonstrated strong growth with a 48.4% increase in net sales. Wholesale segment increased 17.4%, driven by Free People's 20.3% growth. Gross profit rate improved by 105 basis points, and the company opened 36 new retail locations while closing 11 during the period.
Urban Outfitters, Inc. (NASDAQ:URBN) reported record Q2 sales with net income of $117.5 million and earnings per diluted share of $1.24. Total Company net sales increased 6.3% to $1.35 billion. Retail segment sales grew 3.1%, with comparable sales up 2.0%. Free People and Anthropologie saw positive growth, while Urban Outfitters brand declined. Nuuly segment sales surged 62.6%, driven by a 55% increase in active subscribers. Wholesale segment sales rose 15.1%. The gross profit rate improved by 68 basis points, with gross profit dollars up 8.3% to $493.3 million. The company opened 19 new retail locations and closed 9 during the period.
Urban Outfitters (NASDAQ: URBN) reported record Q1 sales and earnings for the period ending April 30, 2024. The company achieved a net income of $61.8 million and earnings per diluted share of $0.65. Adjusted net income was $65.5 million with adjusted earnings per share at $0.69, excluding store impairment and lease abandonment charges.
Total net sales soared 7.8% to $1.20 billion, with significant contributions from digital channels and new retail stores. Retail segment net sales rose 5.8%, driven by 17.1% growth at Free People and 10.4% at Anthropologie, while Urban Outfitters saw a 13.7% decline.
Nuuly segment sales surged 51.4%, bolstered by a 45% increase in average active subscribers. Gross profit increased by 10% to $408.4 million, partly due to higher initial merchandise markups. However, selling, general, and administrative expenses climbed by 11.3%, primarily due to increased marketing and store payroll expenses.
The effective tax rate dropped to 23.6% from 27.1% the previous year. Inventory levels decreased by 1.9% year-over-year.
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