URBN reports record fourth quarter sales and personnel update

PHILADELPHIA, Feb. 10. Feb. 20, 2022 (GLOBE NEWSWIRE) — Urban Outfitters, Inc. (NASDAQ: URBN), a leading lifestyle products and services company that operates a portfolio of global consumer brands including Anthropologie, BHLDN, ​​Free People, FP Les brands Movement, Terrain, Urban Outfitters, Nuuly and Menus & Venues today announced their net sales for the three months and fiscal year ended January 31, 2022.

Due to the significant impact of COVID-19 on our business operations in fiscal 2021, including mandatory store closures, this release includes a comparison of fiscal 2022 results to those of fiscal 2021. 2020. Management considers the comparison of fiscal 2022 results with those of fiscal 2020 to be a meaningful measure. the business performance of the Company.

The company’s total net sales for the three months ended Jan. 31, 2022 hit a record $1.33 billion. Net sales increased 13.9% from the quarter ended January 31, 2020. Retail segment comparable net sales increased 14%, driven by strong double-digit digital channel sales growth , partially offset by low double-digit negative sales in retail stores, mainly due to lower in-store traffic. By brand, Retail comparable net sales increased 49% for Free People Group, 14% for Anthropologie Group and 3% for Urban Outfitters. Total Retail net sales increased by 15%. Wholesale segment net sales decreased 22%, primarily due to reduced Free People Group sales to promotional wholesale customers. URBN believes that the company’s total gross margin in the fourth quarter could deleverage more than expected, mainly due to higher than expected inbound transportation costs.

For the year ended January 31, 2022, the Company’s total net sales increased by 14.2% compared to the year ended January 31, 2020. Retail segment comparable net sales increased by 16%, driven by strong double-digit digital channel sales growth, partially offset by low double-digit negative retail store sales due to lower in-store traffic. Wholesale segment net sales decreased 23%, primarily due to reduced Free People Group sales to promotional wholesale customers.

Net sales by brand and by segment for the three and twelve month periods are as follows:

Three months completed
January 31,
2022 2021 2020
Net sales by brand
Anthropology Group $ 558 699 $ 431 380 $ 491 146
Urban outfitters 474 385 428 102 449,939
group of free people 276 190 219 279 215,765
Menus & Rooms 5,648 2,980 6,759
Nuly (1) 17,277 6,652 5,969
Total enterprise $ 1,332,199 $ 1,088,393 $ 1,169,578
Three months completed
January 31,
2022 2021 2020
Net sales by segment
Retail Segment $ 1,258,268 $ 1,013,889 $ 1,090,552
Wholesale segment 56,654 67,852 73,057
Nuuly Segment (1) 17,277 6,652 5,969
Total enterprise $ 1,332,199 $ 1,088,393 $ 1,169,578
Twelve month period ended
January 31,
2022 2021 2020
Net sales by brand
Anthropology Group $ 1,794,266 $ 1,319,063 $ 1,639,123
Urban outfitters 1,681,559 1,383,361 1,496,249
group of free people 1,003,644 711 631 813 371
Menus & Rooms 21,570 11,358 27,045
Nuly (1) 47,724 24,336 8,001
Total enterprise $ 4,548,763 $ 3,449,749 $ 3,983,789
Twelve month period ended
January 31,
2022 2021 2020
Net sales by segment
Retail Segment $ 4,248,681 $ 3,228,200 $ 3,648,938
Wholesale segment 252 358 197 213 326,850
Nuuly Segment (1) 47,724 24,336 8,001
Total enterprise $ 4,548,763 $ 3,449,749 $ 3,983,789
(1) The Nuuly segment (formerly known as the subscription segment) includes the Nuuly Rent and Nuuly Thrift brands. Nuuly Rent began operations on July 30, 2019. Nuuly Thrift began operations on October 12, 2021.

On a personal level, Francis Pierrel joined the URBN family as President of Urban Outfitters with responsibility for the brand in North America. Mr. Pierrel will report directly to Sheila Harrington, Global Managing Director of Urban Outfitters and Free People Group. Mr. Pierrel brings an impressive background in omnichannel retail and wholesale and has a reputation for cultivating strong collaborative teams, understanding the customer and building brand equity. Most recently, he served as Managing Director of Club Monaco, where he drove increased revenue and profitability. Prior to Club Monaco, he was President of Stores and E-Commerce for Ralph Lauren in North America. Mr. Pierrel has also held management positions in wholesale, retail and e-commerce at Lacoste and Diesel in the United States and Europe.

“I am delighted to welcome Francis to our company and the Urban Outfitters brand,” said Richard A. Hayne, President and CEO of URBN. “He is a seasoned omnichannel retail executive with deep experience managing iconic brands across all channels – e-commerce, stores and wholesale. We believe his strong leadership will greatly benefit the Urban Outfitters brand” , concluded Mr. Hayne.

During the fiscal year ended January 31, 2022, the Company opened a total of 56 new points of sale, including: 29 Free People Group stores (including 18 FP Movement stores), 17 Urban Outfitters stores, 9 Anthropologie Group stores and 1 Menus & Venues restaurant; and closed 18 points of sale including: 8 Anthropologie group stores, 5 Free People group stores, 3 Urban Outfitters stores and 2 Menus & Venues restaurants. During the fiscal year ended January 31, 2022, 1 Urban Outfitters franchisee-owned store and 1 Anthropologie Group franchisee-owned store were opened.

Urban Outfitters, Inc., offers general merchandise and lifestyle-oriented consumer products and services through a portfolio of global consumer brands comprised of 261 Urban Outfitters stores in the United States, Canada and Europe and websites; 238 Anthropologie Group stores in the United States, Canada and Europe, catalogs and websites; 173 Free People stores in the United States, Canada and Europe, catalogs and websites, 10 Menus & Venues restaurants, 2 Urban Outfitters franchise stores and 1 Anthropologie Group franchise store, as of January 31, 2022. Free People, FP Movement and Urban Outfitters wholesales its products through department and specialty stores worldwide, digital businesses and the Company’s retail segment.

This press release is issued pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Certain matters contained in this press release may contain forward-looking statements. When used in this release, the words “project”, “believe”, “plan”, “will”, “anticipate”, “expect” and similar expressions are intended to identify forward-looking statements, although Not all forward-looking statements contain these identifying words. Any or all of the following factors could cause actual financial results to differ materially from the financial results referred to in the forward-looking statements: the impacts of public health crises such as the coronavirus (COVID-19) pandemic, economic effects and market conditions and world political events and the resulting impact on consumer consumption habits, difficulty in predicting and reacting to changes in fashion trends, changes in price level competitive and promotional activities and other industry factors, the effects of the implementation of the United States Kingdom’s withdrawal from the European Union (commonly referred to as “Brexit”), including currency fluctuations, trading conditions economic and legal or regulatory changes, the effects of war, terrorism and civil unrest, natural disasters, extreme or unusual weather conditions (including as a result of climate change) or public health crises, increases in labor costs, increases in gross material costs, availability of retail space appropriate for expansion, timing of store openings, risks associated with international expansion, seasonal fluctuations in gross sales, response to new concepts, our ability to integrate acquisitions, risks associated with digital sales, our ability to maintain and expand our digital sales channels, any significant disruption or security breach of our technology systems, the departure of one or more key senior executives, import risks (including any shortage of transport capacity or any delays in ports), changes in U.S. and foreign trade policies (including the enactment of tariffs, addi border or duty or quota increases), the closure or disruption of, or damage to, any of our distribution centers, our ability to protect our intellectual property rights, the failure of our manufacturers and third party suppliers to comply with our social compliance program, risks related to environmental, social and governance law activities, changes in our effective tax rate, changes in accounting standards and subjective assumptions, regulatory changes and legal issues and other risks identified in our filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update forward-looking statements, even if experience or future changes clearly show that actual results may differ materially from expressed or implied projected results.

Contact: Oona McCullough
Executive Director of Investor Relations
(215) 454-4806

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