fashion

Urban Outfitters' sales and earnings increase compared to Q1 2019


Total Urban Outfitters net sales for the three months ended April 30, 2021, were 927 million dollars, up 7.3 percent compared to the three months ended April 30, 2019 and increased 57.6 percent compared to the three months ended April 30, 2020.

Net income for the three months ended April 30, 2021 was 54 million dollars and earnings per diluted share were 54 cents.

“The first quarter was one for the record books; record sales, a record low markdown rate, and record earnings per share,” said Richard A. Hayne, the company’s chief executive officer in a statement.

Review of Urban Outfitters’ Q1 performance
Comparable retail segment net sales increased 10 percent, driven by strong double-digit growth in digital channel sales, partially offset by negative retail store sales due to reduced store traffic impacted by temporary store closures and occupancy restrictions in Europe and Canada compared to first quarter of 2019.

Compared to the first quarter of 2020, comparable retail segment net sales increased 51 percent, driven by strong double-digit growth in both retail store and digital channel sales.

By brand, comparable retail segment net sales increased 44 percent at the Free People Group, 9 percent at Urban Outfitters and 1 percent at the Anthropologie Group. Total Retail segment net sales also increased 10 percent, while wholesale segment net sales decreased 24 percent.

By brand, comparable retail segment net sales increased 77 percent at the Free People Group, 50 percent at the Anthropologie Group and 42 percent at Urban Outfitters compared to the first quarter of 2020.

Total retail segment net sales increased 53 percent and wholesale segment net sales increased 196 percent.



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