Urban Outfitters, Inc. (NASDAQ: URBN) reported upbeat earnings for its fourth quarter, while sales missed estimates.
The Philadelphia-based chain is a leading lifestyle products and services company which operates a portfolio of global consumer brands comprised of Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands and the Food and Beverage division.
Tuesday, the company announced net income of $86 million for the three months and $298 million for the year ended January 31, 2019. Earnings per diluted share were $0.80 for the last quarter and $2.72 for the year ended January 31, 2019.
Total Company net sales for the three months ended January 31, 2019, increased 3.7% over the same period last year to a record $1.13 billion.
Comparable Retail segment net sales increased 3%, driven by double-digit growth in the digital channel, partially offset by negative retail store sales.
By brand, comparable Retail segment net sales increased 4% at Free People, 4% at Urban Outfitters and 2% at the Anthropologie Group.
Wholesale segment net sales increased 3%.
For the year ended January 31, 2019, total Company net sales increased to $4.0 billion, or 9.3%, over the prior year. Comparable Retail segment net sales increased 8%, driven by double-digit growth in the digital channel and positive retail store sales. Wholesale segment net sales increased 10%.
According to CEO Richard Hayne, "The fourth quarter closed what was an incredibly successful year for URBN and all of our brands."
Shares vaulted 89 cents, or 2.9%, to $31.24.
