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Urban Outfitters sees "record fourth quarter sales" of £26.3m

Chloe Burney
02 March 2023

Urban Outfitters, Inc, the owners of Urban Outfitters, Anthropologie, and Free People, announced a net income of £26.3 million ($31.5 million) for the Q4 ending 31 January 2023.

During the three months ending 31 Jan 2023, total company net sales increased 3.9% to a record £1.15 billion ($1.38 billion). The increase can be largely attributed to positive growth in retail store sales, despite slow growth in digital channel sales.

Urban Outfitters, Inc. shared the following brand net sales during Q4:

Anthropologie up to £504 million ($603 million), compared to £466 million ($558 million)
Urban Outfitters down to £356 million ($426 million), compared to £396 million ($474 million)
Free People up to £255 million($306 million) compared to £231 million ($276 million)
Nuuly up to £36 million ($43 million), compared to £14 million ($17 million)
Menus & Venues up to £6 million ($7 million) compared to £5 million ($6 million)

For the year ended 31 January 2023, total company net sales increased 5.4% year-on-year.

Richard A. Hayne, Chief Executive Officer of Urban Outfitters Inc., commented: "We are pleased to report record fourth-quarter sales driven by strength at the Anthropologie, Free People and Nuuly brands. We enter the spring selling season with an improved inventory position which bodes well for merchandise margin opportunity in fiscal 2024."

Urban Outfitters, Inc. shared the following brand net sales during the twelve-month period:

• Anthropologie up to £1.6 billion ($1.9 billion), compared to £1.5 billion ($1.8 billion)
• Urban Outfitters down to £1.3 billion ($1.5 billion), compared to £1.4 billion ($1.7 billion)
• Free People up to £919 million ($1.1 billion) compared to £836 million ($1 billion)
• Nuuly up to £108 million ($129 million), compared to £39 million ($47 million)
• Menus & Venues up to £23 million ($28 million) compared to £18 million ($21 million)

Gross profit decreased 4.5% to £1.19 billion ($1.43 billion) from £1.25 billion ($1.49 billion) year-on-year. Overall, the group’s net sales reached £4 billion ($4.8 billion), compared to £3.3 billion ($4.5 billion) the year prior.

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