Total net sales for the second quarter of fiscal 2016 increased 7% over the same quarter last year to a record $867.5 million. Comparable retail segment net sales, which include the comparable direct-to-consumer channel, increased 4%. Comparable retail segment net sales increased 14% at Free People, 4% at Urban Outfitters and 2% at the Anthropologie Group. Wholesale segment net sales rose 21%.
The company repurchased and subsequently retired a total of 4.8 million common shares for approximately $170.8 million during the six months ended July 31, 2015.
During the six months ended July 31, 2015, Urban Outfitters opened a total of 13 new stores including: 7 Free People stores, 4 Anthropologie Group stores and 2 Urban Outfitters stores. However it also closed a total of 3 stores in the same period: 2 Urban Outfitters stores and 1 Free People store.
In terms of its segments in the fiscal second quarter, Urban Outfitters reported:
- Urban Outfitters had $342.2 million in net sales.
- Anthropologie had $370.7 million in net sales.
- Free People had $154.6 million in net sales.
Richard A. Hayne, CEO of Urban Outfitters, said:
We are pleased to announce record sales for the second quarter driven by positive retail segment comp growth at each brand. Without question, the brands’ strong execution of our long-term strategy helped fuel that sales growth and laid the groundwork for future increases, as well.
At the end of the second quarter the company had cash, cash equivalents, and marketable securities of $266.4 million compared to $258.8 million at the end of January 2015.
Shares of Urban Outfitters closed Monday down 0.3% at $32.23 on its 52-week trading range of $27.89 to $47.25. Following the release of the earnings report shares were up 5.8% at $34.09 in the after-hours trading session. The stock has a consensus analyst price target of $39.72.
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