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Urban Outfitters (URBN) FQ1 Comps Currently in Low Single-Digit Negative Range

April 1, 2014 4:44 PM EDT
With its 10-K filing on Tuesday, Urban Outfitters, Inc. (Nasdaq: URBN) said first-quarter 2015 Retail comps are low single-digit negative.

From the filing:

"People and Anthropologie, respectively, and was partially offset by a decrease of 0.6% at Urban Outfitters. The increase in Retail segment comparable net sales was driven by continued growth in the direct-to-consumer channel for all brands and positive comparable store net sales at Anthropologie and Free People. Direct-to-consumer net sales were driven by an increase in website and mobile application traffic, a higher average order value and an improved conversion rate. The positive comparable store net sales resulted from increases in units per transaction and transactions, which were partially offset by a decrease in average unit selling price. The increase in net sales attributable to non-comparable and new stores was primarily the result of opening 87 new stores in fiscal 2014 and 2013 that were not in operation for the full comparable periods. Thus far during the first quarter of fiscal 2015, comparable Retail segment net sales are low single-digit negative."


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