Urban Outfitter Stock Price, News & Analysis

Urban Outfitters, Inc. (NASDAQ:URBN) reported a net sales increase of 14.6% for the two months ended December 31, 2021, compared to the same period in 2019, with comparable retail segment sales rising 14%. Digital channel sales drove growth, despite retail store sales declining due to reduced traffic. For the eleven months ended December 31, 2021, net sales increased 14.4%. However, wholesale segment net sales decreased 18% due to a reduction in promotional sales. The company also opened 56 new retail locations during this period.

Urban Outfitters, Inc. (NASDAQ: URBN) announced on December 9, 2021, the expansion of its Board from 10 to 11 members, with the election of Kelly Campbell as an independent director. Effective December 7, 2021, Campbell brings extensive experience in digital marketing, having previously served as President and CMO of Hulu and held leadership roles at Google. Chairman Richard A. Hayne expressed confidence that her expertise will enhance the company's digital strategies. Urban Outfitters operates various global consumer brands, including Anthropologie and Free People.

Urban Outfitters reported a net income of $89 million and earnings per share of $0.89 for Q3 2021, marking a strong recovery from COVID-19 impacts. Total net sales reached $1.13 billion, a 14.6% increase since Q3 2019. The Free People Group experienced a significant 55% rise in sales. Despite the growth, wholesale segment sales dropped by 15%. Inventory rose by 18%, reflecting strategic decisions to mitigate supply chain issues. SG&A expenses grew 11.8% but leveraged against sales, indicating effective expense management.

Urban Outfitters (NASDAQ:URBN) reported a record net income of $127 million and earnings per diluted share of $1.28 for Q2 2021, marking a significant 110% increase in earnings compared to fiscal 2020. Total net sales for the quarter reached $1.16 billion, a 20.3% increase from Q2 2019. The Retail segment saw a 24% increase in sales, bolstered by strong digital growth. However, the Wholesale segment declined by 30% due to reduced sales to promotional wholesale customers. The increase in gross profit rate was primarily due to low merchandise markdown rates.

Urban Outfitters (NASDAQ: URBN) announced the launch of Nuuly Thrift, a resale marketplace set to debut in Fall 2021. This platform allows users to buy and sell apparel for men, women, and kids, positioning itself alongside the existing Nuuly Rent service. Customers can earn Nuuly Cash, redeemable for 10% more than cash payouts, enhancing their shopping experience. CEO Richard Hayne highlighted the company's long history in vintage retail and plans to capture market share in the fast-growing resale sector. This initiative aims to leverage URBN's large customer base and enhance sustainability in fashion.

Hims & Hers Health, Inc. (NYSE: HIMS) has partnered with Urban Outfitters, Inc. (NASDAQ: URBN) to offer personalized health and wellness solutions on urbanoutfitters.com. This collaboration will begin with select Hims products, expanding to include products from the Hers line, addressing skin care, hair loss, sexual health, and supplements. Melissa Baird, COO of Hims & Hers, emphasized the importance of consumer access to quality health products, while Jena Tracey from Urban Outfitters highlighted the synergy between their customer base and the personalized offerings of Hims & Hers.

Urban Outfitters reported a record $927 million in net sales for Q1 2021 with a net income of $54 million and earnings per share of $0.54. Comparisons with fiscal 2020 indicate a growth of 57.6% in net sales, while retail segment sales saw a 10% increase compared to 2019. Key drivers included a 44% sales increase for the Free People Group and significant digital channel growth. The gross profit rate improved to 32.4%, aided by low markdown rates and cost control. However, there was a 24% decline in wholesale segment sales, and inventory levels rose by 17%.

Urban Outfitters (NASDAQ: URBN) has announced a partnership with FABSCRAP, aimed at reducing the fashion industry's environmental impact. The initiative will establish a new FABSCRAP location in Philadelphia, along with a working capital grant to support FABSCRAP's expansion into the Mid-Atlantic region. This partnership builds on their collaboration since 2019, which focuses on recycling fabric waste from Urban Outfitters' operations. FABSCRAP is dedicated to addressing textile waste in the fashion industry, and this expansion is expected to enhance their service accessibility and impact.

Urban Outfitters, Inc. (NASDAQ:URBN) announced a leadership change at Anthropologie Group with Tricia D. Smith appointed as the new Global CEO, following Hillary Super's departure. Smith brings over 26 years of retail experience from Nordstrom and Tilly's. URBN also reported high single-digit growth in retail segment comparable net sales for Q1 of Fiscal 2022, driven by strong performances from Free People and Urban Outfitters, although Anthropologie sales are slightly negative. European stores remain closed due to COVID-19, but online sales have surged significantly.