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.
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