Urban Outfitters posts $3 billion in turnover
A decrease of 9% in comparable sales at Urban Outfitters has eaten in the group’s earnings for its fourth quarter, closed end of January.
However, parent group Urban Outfitter Inc. still managed to post sales growth of 5.7% to $905.9 million, largely thanks to brands Free People and Anthropologie which saw sales increase by 20% and 10% respectively. Wholesale activity, which accounts for 5% of the group’s business, jumped by 25% over the quarter.
Full-year results at the group were largely positive. Net sales grew 6% across the board to reach $3.09 billion, up 10% against the previous year. With over $1.37 billion in net sales, Urban Outfitters remains the group’s premier brand, just ahead of Anthropologie which generated $1.24 billion. Free People drove $416,369 in sales over 2013. Other brands at the group, which includes Terrain, generated $36,695 in sales.
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