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Urban Outfitters<\/p>\n
The Philadelphia-based company said retail sales increased 9.6%, with comparable retail sales increasing 8% for the quarter ending October 31, driven by high single-digit growth in both digital channel sales and retail store sales.<\/p>\n
By brand, comparable sales surged 12.5% at\u00a0Urban Outfitters, rose 7.6% at Anthropologie<\/a> and lifted 4.1% at Free People<\/a>. Subscription sales increased by 48.7%, thanks to a 42.2% increase in average active subscribers. Meanwhile, wholesale revenues increased 7.6%, thanks to an 8.4% increase in Free People wholesale sales primarily due to an increase in sales to specialty customers.<\/p>\n The stellar sales quarter resulted in record-breaking profit for the three months, with net income totalling\u00a0$116.4 million\u00a0and earnings per diluted share of\u00a0$1.28.<\/p>\n \u201cWe are pleased to report record revenues, profits, and earnings per share for the quarter,\u201d said\u00a0Richard Hayne, chief executive officer, Urban Outfitters Inc.<\/p>\n \u201cTrends observed last quarter have remained consistent with broad-based comparable sales growth and robust results in the Retail, Subscription, and Wholesale segments. These results underscore the strength of our diversified business model, which enables us to continue capturing market share, and drive consistent long-term growth.”<\/p>\n