Anthropologie leads Urban Outfitters' record fourth quarter sales
Urban Outfitters on Tuesday reported record net sales of $1.03 billion in its fourth quarter. The retail segment increased to $955.9 million from $938.7 million in the previous fourth quarter and carried the wholesale segment that was relatively flat at $74 million.
Anthropologie performed the best for the company increasing to $424 million in the quarter, followed by Free People that increased to $186.3 million. The Urban Outfitters brand decreased to $414.8 million from $415.4 million in the prior year.
Urban Outfitters and Anthropologie both increased to $1.4 billion in the fiscal year and Free People increased to $662.7 million from $609.6 million in the prior year. Total company net sales increased 3% to $3.5 billion from $3.4 billion in fiscal 2016.
Comparable retail segment sales increased 1% driven by strong double-digit growth in the direct-to-consumer channel, which were offset by lower retail store comparable net sales. In addition, the wholesale segment net sales increased 11% for the year.
The company will report its full fourth quarter and fiscal 2017 results on March 7, 2017.
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