Fashion retailer Urban Outfitters (URBN) announced its fourth-quarter 2019 earnings on March 5 after the closing bell. For the quarter, the fashion company earned $86 million in net income.
Earnings were $0.80 per diluted share, almost 80 times the previous year earnings of 1 cent a share.
Urban Outfitters, which houses brands such as Anthropologie, BHLDN, Free People, Terrain and its namesake, along with a Food and Beverage division, posted last month its net sales for the three months ended Jan. 31, 2019.
According to the brand house, total company net sales for the three-month period rose 3.7% year-over-year to about $1.13 billion. Double-digit growth in its digital channel lifted the comparable retail segment net sales up 3%, despite negative retail store sales.
Comparable retail segment net sales rose 4% for Free People brand, 4% for Urban Outfitters and 2% for the Anthropologie Group. Wholesale segment net sales improved 3% year-over-year.
As of Jan. 31, 2019, total inventory spiked 5.4% on a year-over-year basis. Comparable Retail segment inventory grew 3% at cost.
Recently, competitor Gap (GSP) saw its stock fall despite posting robust earnings growth. The mix of the news of Gap splitting to two entities as well as missing estimates pushed the stock down shortly after the announcement last week.