- Urban Outfitters reported fiscal 3Q18 revenues of $973.5 million, up 9.0% year over year and beating the $967.9 million consensus estimate. Adjusted EPS was $0.70, beating the $0.62 consensus estimate and up from $0.41 in the year-ago quarter.
- Comparable sales were up 8.0% year over year, even with the consensus estimate of 8.0%.
- The company did not provide quantitative guidance for FY19. In early 2019, Urban Outfitters plans to open its second European location. Additionally, the company plans to open a Free People’s first franchise location in Tel Aviv.
Urban Outfitters reported 3Q19 revenues of $973.5 million, up 9.0% year over year and above the consensus estimate of $967.9 million. Adjusted EPS was $0.70 up 70.7% from the year-ago quarter, above the consensus estimate of $0.62 and above last year’s EPS of $0.41.
By brand, Anthropologie Group net sales were $385.0 million, up 9.4% year over year. Urban Outfitters brand sales were $379.2 million, up 7.2% from the year-ago quarter. Free People sales increased 12.0%, to $202.2 million, and Food and Beverage sales increased 14.5% to $7.1 million.
By division, retail net sales increased by 8.7%, to $878.9 million and wholesale segment sales were up 12.4%, to $94.7 million.
The company reported that store comps have been positive for each of its brands for the third straight quarter, due to increased average unit selling prices and increased units per transaction. By brand, Free People comps were up 12.0%, below the 13.4% consensus estimate. Anthropologie Group comps were up 8.0%, beating the 6.4% consensus estimate, and Urban Outfitters brand comps were up 7.0%, below the 7.8% consensus estimate.
The company reported that in retail, both digital and store channels comps delivered positive results. Digital led the way, posting double digit sales increases at each of the brands, driven by increases in sessions, average order value (AOV) and conversion rate.
During the nine months ending October 31, 2018, the company opened a total of 14 new locations—three Free People stores, four Anthropologies Group stores, four Urban Outfitters stores, and three Food and Beverage restaurants; the company closed four locations: one Urban Outfitters store, one Free People store and two Anthropologie Group stores. During the nine-month period, three franchise-owned Urban outfitter stores were opened.
The company reported that its international business is a strategic focus for the brand. In November 2018 it opened its first retail location in Amsterdam.
The company did not provide quantitative guidance for FY19.
- In early 2019, Urban Outfitters plans to open its second European location. Additionally, the company plans to open Free People’s first franchise location in Tel Aviv.