Specialty retailer Urban Outfitters, Inc., which owns the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, reported record net sales increases for Q4 and the 2013 fiscal year, which ended on Jan. 31, 2014.
Total net sales for Q4 2013 increased to $906 million, a 6% improvement over the same quarter in 2012. For the fiscal year, total company net sales increased 10% year over year to $3.1 billion.
Comparable retail segment net sales increased 20% at Free People and 10% at Anthropologie during the quarter. While overall wholesale segment sales rose 24%, net sales decreased by 9% for the Urban Outfitters brand. Total comparable retail segment net sales increased 6%, while wholesale net sales improved by 20%.
“I am pleased to announce record sales for the fourth quarter of fiscal 2014 driven by outstanding performances from the Anthropologie and Free People brands,” said Richard A. Hayne, CEO of Urban Outfitters, Inc. “Although customer response to our early spring fashion offerings has been difficult to read due to weather abnormalities, the Anthropologie and Free People brands continue to deliver solid comparable retail segment sales gains. These gains, however, have been largely offset by weakness at the Urban Outfitters brand.”
The retailer also opened 38 new stores over the past year: 16 new Urban Outfitter stores, 13 Free People stores and nine Anthropologie stores. However, the company closed one Urban Outfitters location, and two Anthropologie stores.