In the second quarter, Urban Outfitters’ net income increased to 117.5 million dollars and earnings per diluted share to 1.24 dollars. Net sales increased 6.3 percent to 1.35 billion dollars, with retail segment net sales increasing 3.1 percent and comparable retail segment net sales increasing 2%. In the first six months, the company’s net income was 179.3 million dollars, and earnings per diluted share were 1.89 dollars.
“We are pleased to report record second quarter sales fueled by strength across all three segments – retail, Nuuly, and wholesale. “Equally impressive, four of our five brands delivered record operating profits during the second quarter,” said Richard A. Hayne, the company’s CEO. The comparable retail segment net sales increased 7.1 percent at Free People and 6.7 percent at Anthropologie, and decreased 9.3 percent at Urban Outfitters. Nuuly se
During the six-month period, comparable retail segment net sales increased by 11.5 percent at Free People, 8.4 percent at Anthropologie, and decreased by 11.4 percent at Urban Outfitters. Nuuly segment net sales increased by 57.2 percent due to a 50 percent increase in average active subscribers. Wholesale net sales increased by 9.2 percent due to an 11.9 percent increase in Free People wholesale, partially offset by a decrease in Urban Outfitters wholesale sales.
During the first half period, the company opened 19 new retail locations including nine Free People stores, five Urban Outfitters stores and five Anthropologie stores; and closed nine retail locations including four Urban Outfitters stores, three Anthropologie stores and two Free People stores.
