Urban Outfitters Q4 Sales Rise 12%

Urban Outfitters Inc. is beginning to see some positive signs in its namesake business. But the retailer still has work to do. Fourth-quarter net income declined 9 percent to $80 million from $88 million in the 2014 quarter, and 18 percent to $232 million for the year ending Jan. 15, compared with $282 million in 2014. Earnings per diluted share were 60 cents in the fourth quarter, beating analysts estimates of 58 cents a diluted share. EPS for the year came in at $1.68. Fourth-quarter sales rose to $1.01 billion, a 12 percent increase over the prior-year period. For the year, total company net sales increased 8 percent to a record $3.3 billion from $3.08 billion in 2014. Comparable retail segment net sales advanced 2 percent and wholesale segment net sales increased 27 percent in the fourth quarter. By business, comparable retail segment net sales increased 18 percent at Free People, 6 percent at Anthropologie Group and 4 percent at Urban Outfitters, while wholesale segment net sales rose 21 percent. Richard Hayne, chairman and chief executive officer of Urban Outfitters Inc., said double-digit sales gains in Web and mobile full-priced selling contributed to a strong start to fiscal 2016. But consumer demand has shifted from

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