Urban Outfitters, Inc. announced total company net sales for the fourth quarter were 1.33 billion dollars, up 13.9 percent, while comparable retail segment net sales increased 14 percent.
For the year ended January 31, 2022, total company net sales increased 14.2 percent compared to the year ended January 31, 2020. Comparable retail segment net sales increased 16 percent.
“Record fourth quarter sales were driven by positive ‘comps’ at all brands,” said Richard A. Hayne, the company’s chief executive officer in a statement, adding, “Strong customer response to our early spring offerings bode well for continued sales growth in the first quarter.”
Highlights of Urban Outfitters’ Q4 results By brand, comparable retail segment net sales increased 49 percent at the Free People Group, 14 percent at the Anthropologie Group and 3 percent at Urban Outfitters.
Total retail segment net sales increased 15 percent, while wholesale segment net sales decreased 22 percent. Nuuly segment net sales increased by 11.3 million dollars driven by the continued expansion of the number of subscribers since its launch at the end of the second quarter of fiscal 2020.
The company reported net income of 41 million dollars and earnings per diluted share of 41 cents for the three months ended January 31, 2022.
Review of Urban Outfitters' full year performance Wholesale segment net sales decreased 23 percent. Nuuly segment net sales increased by 39.7 million dollars.
For the year ended January 31, 2022, net income was 311 million dollars and earnings per diluted share were 3.13 dollars.
During the year ended January 31, 2022, the company opened 56 new retail locations including: 29 Free People Group stores (including 18 FP Movement stores), 17 Urban Outfitters stores, and nine Anthropologie Group stores.
The company closed 18 retail locations including: eight Anthropologie Group stores, five Free People Group stores, and three Urban Outfitters stores, also one Urban Outfitters franchisee-owned store and one Anthropologie Group franchisee-owned store were opened.