Urban Outfitters Inc - URBN STOCK NEWS

Urban Outfitters (NASDAQ:URBN) reported net sales for two and eleven months ending December 31, 2022. Total net sales for the two-month period rose 2.3%, while Retail segment sales grew 1%, with comparable sales up 2%. Notably, Free People saw a 15% increase, while Urban Outfitters experienced a 10% decline. For the eleven-month period, total net sales increased 5.1%, with comparable retail sales up 4%. The company opened 33 new stores and closed 7. The Nuuly segment continued to soar, posting a 176% sales increase.

Urban Outfitters (NASDAQ:URBN) announced the departure of Francis Pierrel, President of Urban Outfitters Group. The company expressed gratitude for his contributions during his tenure. Urban Outfitters operates various lifestyle brands including Anthropologie, Free People, and Terrain, offering a diverse range of consumer products. This press release complies with the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995, highlighting potential risks affecting financial results, such as public health crises and market conditions.

Urban Outfitters, Inc. (NASDAQ:URBN) reported a net income of $59 million and earnings per diluted share of $0.64 for Q2 2022, with total sales reaching $1.18 billion, a 2.2% increase year-over-year. Notably, the Retail segment saw a 1% sales increase, predominantly driven by strong performance at the Free People and Anthropologie brands, while Urban Outfitters brand sales fell by 9%. However, gross profit decreased by 13.9% due to higher markdowns. The company's inventory rose by 44.4% year-over-year, and selling, general, and administrative expenses increased 7.2%.

Urban Outfitters (NASDAQ:URBN) reported a record net income of $32 million and earnings per diluted share of $0.33 for Q1 2022, driven by a 13.4% increase in net sales to $1.05 billion. The Retail segment's net sales rose 12%, with Comparable sales up 11%. Notably, the Anthropologie Group saw an 18% increase. However, gross profit rate decreased by 169 basis points, impacted by rising costs in transportation and raw materials. The company repurchased 2.4 million shares for approximately $62 million in the quarter and opened five new retail locations.

Urban Outfitters (NASDAQ:URBN) reported a net income of $41 million and $0.41 earnings per diluted share for Q4 FY2022, with total net sales reaching a record $1.33 billion, marking a 13.9% increase from Q4 FY2020. For the full year, net income was $311 million and earnings per share hit a record $3.13, a 14.2% sales increase compared to FY2020. Digital sales surged, though retail store sales faced challenges from decreased foot traffic. The company opened 56 new locations and repurchased 2 million shares worth $56 million.

Urban Outfitters (URBN) reported record net sales of $1.33 billion for the three months ended January 31, 2022, reflecting a 13.9% increase compared to the same period in 2020. Comparable retail segment sales rose 16% for the year, driven by digital growth despite a decline in retail store traffic. However, wholesale segment sales decreased 23% due to reduced promotional sales. The company opened 56 new retail locations during the fiscal year but faced challenges with inbound transportation costs impacting gross margins.

Urban Outfitters, Inc. (NASDAQ:URBN) reported a net sales increase of 14.6% for the two months ended December 31, 2021, compared to the same period in 2019, with comparable retail segment sales rising 14%. Digital channel sales drove growth, despite retail store sales declining due to reduced traffic. For the eleven months ended December 31, 2021, net sales increased 14.4%. However, wholesale segment net sales decreased 18% due to a reduction in promotional sales. The company also opened 56 new retail locations during this period.

Urban Outfitters, Inc. (NASDAQ: URBN) announced on December 9, 2021, the expansion of its Board from 10 to 11 members, with the election of Kelly Campbell as an independent director. Effective December 7, 2021, Campbell brings extensive experience in digital marketing, having previously served as President and CMO of Hulu and held leadership roles at Google. Chairman Richard A. Hayne expressed confidence that her expertise will enhance the company's digital strategies. Urban Outfitters operates various global consumer brands, including Anthropologie and Free People.