Wednesday , August 17 2022

Urban Outfitters recorded a record net sales of 850 million euros in the third quarter



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Urban Outfitters, Inc. (URBN) in Philadelphia said its net sales for the third quarter ended October 31, 2018 increased 9% to $ 974 million (about € 850 million), compared to € 893 million (€ 780 million) in the same period last year year.

Urban Outfitters launches its third private Ohio brand during the third quarter – Instagram: @ohiibeauty

Net sales in the wholesale segment increased by 12%, while comparable retail sales grew by 8%, due to a solid two-digit growth in the company's digital channel.

According to the brand, comparable prices increased by 12% for people with free accommodation, 8% for anthropology and 7% for urban suppliers.

Net income for the company amounted to $ 78 million ($ 68 million) or $ 0.70 per share in the quarter, compared to $ 45 million (approximately € 40 million) in the third quarter of 2017

"I am pleased to announce that our teams have achieved record sales and earnings in the third quarter," said Richard A. Hayne, Managing Director of Urban Outfitters, Inc.

"All brands, channels, product categories, and geographic areas have achieved very positive, comparable sales results," he added.

New invasion of beauty

During this quarter, Urban Outfitters launched its own Ohmy cosmetic brand in the footsteps of other strings aimed at young people such as Asos and Boohoo, who introduced their own beauty brands last year.

The launch of the brand without animal cruelty has received enthusiastic reviews that highlight affordable prices and minimalist packaging of the line.

Meanwhile, the company's net sales totaled $ 2,800 million (€ 2,445 million), compared to € 2,500 million (approximately € 2,184 million) in the same period last year. Net profit for the nine-month period amounted to $ 212 million, up from 107 million in the previous year.

After opening 14 stores, URBN currently operates in 623 branches around the world under various brands, as well as e-commerce websites of specific brands in the United States, Canada and Europe. In addition, the first three franchises of the city's suppliers were opened this year.

At the end of last month, the company announced that the brand that bears its name will reach the Middle East with a franchise agreement with Azadeo Group, the first Dubai destination to be commissioned in 2019.

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