Lucid files for 1-for-10 reverse stock split requiring shareholder approval
PHILADELPHIA - Urban Outfitters Inc. (NASDAQ:URBN) reported better-than-expected fourth quarter results, sending shares up 2.6% in after-hours trading.
The lifestyle retailer posted adjusted earnings per share of $1.04, surpassing analyst estimates of $0.94. Revenue came in at $1.64 billion, topping expectations of $1.61 billion and rising 10.1% YoY.
Total (EPA:TTEF) Retail segment net sales increased 6.3%, with comparable Retail segment net sales up 5.1%. The Anthropologie brand led growth with an 8.3% rise in comparable sales, while Urban Outfitters saw a 3.5% decline.
"We are pleased to announce record Q4 revenues and full-year profits," said CEO Richard A. Hayne. "Our success was driven by strength across all three segments – Retail, Subscription and Wholesale."
Gross profit margin expanded 304 basis points to 32.3%, primarily due to improved markdowns at Urban Outfitters.
For the full fiscal year, Urban Outfitters reported record net income of $402.5 million on revenue of $5.55 billion, up 7.7% YoY.
The company opened 57 new stores and closed 30 locations during the year. As of January 31, Urban Outfitters operated 742 stores across its brands.
Looking ahead, management expressed confidence in the company’s continued success, citing the effectiveness of its strategic initiatives.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.