Urban Outfitters Inc - URBN STOCK NEWS

Urban Outfitters (NASDAQ:URBN) reported a record net income of $127 million and earnings per diluted share of $1.28 for Q2 2021, marking a significant 110% increase in earnings compared to fiscal 2020. Total net sales for the quarter reached $1.16 billion, a 20.3% increase from Q2 2019. The Retail segment saw a 24% increase in sales, bolstered by strong digital growth. However, the Wholesale segment declined by 30% due to reduced sales to promotional wholesale customers. The increase in gross profit rate was primarily due to low merchandise markdown rates.

Urban Outfitters (NASDAQ: URBN) announced the launch of Nuuly Thrift, a resale marketplace set to debut in Fall 2021. This platform allows users to buy and sell apparel for men, women, and kids, positioning itself alongside the existing Nuuly Rent service. Customers can earn Nuuly Cash, redeemable for 10% more than cash payouts, enhancing their shopping experience. CEO Richard Hayne highlighted the company's long history in vintage retail and plans to capture market share in the fast-growing resale sector. This initiative aims to leverage URBN's large customer base and enhance sustainability in fashion.

Hims & Hers Health, Inc. (NYSE: HIMS) has partnered with Urban Outfitters, Inc. (NASDAQ: URBN) to offer personalized health and wellness solutions on urbanoutfitters.com. This collaboration will begin with select Hims products, expanding to include products from the Hers line, addressing skin care, hair loss, sexual health, and supplements. Melissa Baird, COO of Hims & Hers, emphasized the importance of consumer access to quality health products, while Jena Tracey from Urban Outfitters highlighted the synergy between their customer base and the personalized offerings of Hims & Hers.

Urban Outfitters reported a record $927 million in net sales for Q1 2021 with a net income of $54 million and earnings per share of $0.54. Comparisons with fiscal 2020 indicate a growth of 57.6% in net sales, while retail segment sales saw a 10% increase compared to 2019. Key drivers included a 44% sales increase for the Free People Group and significant digital channel growth. The gross profit rate improved to 32.4%, aided by low markdown rates and cost control. However, there was a 24% decline in wholesale segment sales, and inventory levels rose by 17%.

Urban Outfitters (NASDAQ: URBN) has announced a partnership with FABSCRAP, aimed at reducing the fashion industry's environmental impact. The initiative will establish a new FABSCRAP location in Philadelphia, along with a working capital grant to support FABSCRAP's expansion into the Mid-Atlantic region. This partnership builds on their collaboration since 2019, which focuses on recycling fabric waste from Urban Outfitters' operations. FABSCRAP is dedicated to addressing textile waste in the fashion industry, and this expansion is expected to enhance their service accessibility and impact.

Urban Outfitters, Inc. (NASDAQ:URBN) announced a leadership change at Anthropologie Group with Tricia D. Smith appointed as the new Global CEO, following Hillary Super's departure. Smith brings over 26 years of retail experience from Nordstrom and Tilly's. URBN also reported high single-digit growth in retail segment comparable net sales for Q1 of Fiscal 2022, driven by strong performances from Free People and Urban Outfitters, although Anthropologie sales are slightly negative. European stores remain closed due to COVID-19, but online sales have surged significantly.

Anthropologie has partnered with Brazilian brand FARM Rio to celebrate Earth Month by launching the 1,000 Trees A Day initiative. The collaboration includes a commitment to plant 25,000 trees through the nonprofit One Tree Planted over the year, aiming to support endangered ecosystems in Brazil. Starting April 8, Anthropologie will offer a limited edition reusable tote for online purchases over $175. Anthropologie, a lifestyle brand founded in 1992, continues to innovate with initiatives that engage their community while promoting environmental sustainability.

Urban Outfitters, Inc. (NASDAQ:URBN) reported a net income of $29 million for Q4 2021, with diluted earnings per share at $0.29. However, total net sales decreased by 6.9% to $1.09 billion. Comparable Retail segment net sales fell 7%, impacted by reduced store traffic due to the pandemic, despite strong digital sales growth. For the fiscal year, net sales dropped 13.4%. Gross profit rate declined to 25%, with increased logistics expenses affecting profitability. The company remains optimistic about upcoming seasons based on recent sales trends.

Urban Outfitters reported a 6.9% decline in net sales for the three months ended January 31, 2021, totaling $1.09 billion. Comparable retail sales fell 7%, primarily due to reduced store traffic from the pandemic, although online sales saw double-digit growth. Notably, Free People reported a 6% increase in retail sales while Urban Outfitters and Anthropologie saw 6% and 11% decreases, respectively. The company opened 20 new retail locations and plans to announce Q4 earnings on March 2, 2021.