Following strong holiday sales,
Urban Outfitters Inc
) reported robust preliminary sales results for the
fourth-quarter of fiscal 2013. The company's net sales jumped 17%
year over year to $857 million and surpassed the Zacks Consensus
Estimate of $844 million.
By brands, sales increased 16.5% to $415.5 million at Urban
Outfitters, while it rose 11.9% to $334.8 million at
Anthropologie. Net sales jumped 39.9% to $97.7 million at Free
People, while it nearly doubled to $8.8 million at Other
With consumers regaining confidence, most of the retailers are
witnessing strong sales trends. This is evident from the fact
that Jan 2013 was strong on the whole for most retailers, with
other players including
) registering comparable-store sales growth of over 10%.
Urban Outfitters is slated to report its fourth-quarter
results on Mar 11, 2013. The current Zacks Consensus Estimate for
the quarter stands at 55 cents a share, which is more than double
the earnings of 27 cents reported in the comparable year-ago
Comparable retail segment net sales for this Zacks Rank #2
(Buy) stock, including comparable direct-to-consumer channel,
escalated 11%, reflecting robust sales across all
Comparable retail segment net sales rose by 11% and 7% at
Urban Outfitters and Anthropologie respectively, while it jumped
37% at Free People. Net sales at Direct-to-consumer increased
44%, while the wholesale segment marked an increase of 22% in net
sales for the period.
Amid the positives, comparable-store net sales remained flat,
reflecting the impact of charges associated with
Direct-to-consumer returns at stores. Excluding the charges,
comparable store net sales increased in the low single-digit.
The company stated that total net sales surged 13% year over
year to $2.8 billion for fiscal 2013, while comparable retail
segment net sales increased 7%. The company stated that
comparable-store net sales edged down 1%. However, excluding the
charges associated with Direct-to-consumer returns at stores,
comparable store net sales increased in the low
single-digit. Direct-to-consumer net sales soared 31%,
while the Wholesale segment marked an increase of 12% in net
During fiscal 2013, the company opened 49 new stores,
including 15 Free People stores, 18 Urban Outfitters stores, 14
Anthropologie stores, 1 BHLDN store and 1 Terrain garden center.
Urban Outfitters closed 2 Anthropologie stores during the
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