Despite sales declines related to the ongoing Covid-19 pandemic, the lifestyle group managed to achieve a 46.2% increase in its fourth-quarter earnings, which totaled $28.57 million, or $0.29 per diluted share.
The American lifestyle group reported net sales of $1.09 billion in the fourth quarter on Tuesday, representing a year-over-year decline of 6.9% which was largely due to reduced store traffic and occupancy restrictions.
Peter Ruis, the UK fashion executive who used to run Jigsaw and was Executive Buying & Brand Director at John Lewis, is moving to Canada to run Indigo, the country’s largest books and lifestyle retailer.
The lifestyle group reported has that coronavirus-related restrictions led to an 8.4% decline in its holiday 2020 sales. The company has also revealed that Sheila Harrington is taking over as CEO of its flagship brand.
The parent company of Urban Outfitters, Anthropologie and Free People has announced the departure of chief operating officer Calvin Hollinger and revealed a slew of promotions in its senior management team.
Shares in the Philadelphia-based fashion retailer shot up more than 12% in the extended session on Tuesday, as the company reported a surprise Q2 profit of $34 million thanks to double-digit digital growth.