Urban Outfitters Keeps Up MomentumURBN) traded at $33.39 per share on Wednesday. The daily volume measured at 1,414,500 shares. Urban Outfitter's 52-week high of the share price is $47.25 and the 52-week low is $27.89. The company has a market cap of $4,313 million. The company currently operates 511 stores in the US, Europe and Canada.
The retailer had a change from open of 0.03% trading at a volume of 1,411,973 shares. Urban Outfitters weekly performance is – 5.61% against its 52 week low.
Richard A. Hayne, CEO of Urban Outfitters spoke on the company's Q1 2016 results as Urban Outfitters total company sales for the quarter increased by 8% to a first quarter record of $739 million. Non-comparable store sales drove a $20 million increase, with Urban Outfitters opening 6 new stores and a 18% jump in wholesale segment sales also contributed to the increased growth. The company has a total market capitalization of $4.29 Billion.
Urban Outfitters has experienced continued growth with driving strong direct-to-consumer sales gains. The retailer opened approximately 35 to 40 new stores during the year. Haynes stated, “Urban Outfitters by brand, are planning approximately 12 new Urban Outfitters stores globally, including 3 new European stores, 15 new Anthropologie stores globally, including 3 new European stores and 12 new Free People stores in North America.”
Anthropologie was able to keep momentum having delivered 11 consecutive quarters of positive comp revenue growth. Despite the weather and port delays impacting performance many areas showed solid to very strong growth throughout the quarter. The Anthropologie Group has adjusted the team and the strategy and is looking for improvements in the back half of the year and continued expansion of accessories in the future.
Its home initiative, Anthro-file, grew double-digits over last year, and the customer is demonstrating increasing comfort with the retailer's ability to gain trust amongst many of its channels. The Anthropologie Group growth strategy remains consistent with the Urban Outfitter's Vision for 2020. Both businesses are investing in talent, infrastructure and processes that will allow the potential growth of multi-billion dollar lifestyle brands.
Free People produced record first quarter results, delivering double-digit sales gains and record operating profits. The brand showed strong consistent growth against multi-year difficult comparisons. Free People was able to accomplish this by offering highly compelling product in wildly engaging shopping experiences, both in stores and online. The combined Retail segment delivered a powerful comp sales increase of 17% during the quarter on top of the 25% increase in the same quarter last year, and a 44% comp in the year before.
Published on Jul 30, 2015By Jennifer Lynn