Urban Outfitters sales up 12% in first quarter, profits triple

Urban Outfitters boosts its profitability in first quarter. The American company ended the first three months of fiscal 2018 (ended April 30) with a 12.4% sales growth over the same period of the previous year. The group’s net income tripled, while earnings per share soared 280% to 38 cents.

The company’s profit reached 41.3 million dollars (35.03 million euros) between February and April 2018, compared to 11.9 million dollars (10.1 million euros) in the same period of 2017. Turnover rose to 855.7 million dollars (725.8 million euros).

The Urban Outfitters chain registered a turnover of 322.7 million dollars (273.7 million euros), 12.4% more. Anthropologie ended the first quarter with a turnover rise of 4.8%, to 347.1 million dollars (294.4 million euros), while Free People grew 13.7% in the same period, to 181.3 million of dollars (153.8 million euros).

Urban Outfitters recorded sales of 322.7 million dollars (273.7 million euros) between February and April 2018

By distribution channels, retail sales increased by 12.3% in the first quarter, to 775.5 million dollars (657.8 million euros). Wholesale revenues also grew in double digits, with an increase of 13.1% to 80.1 million dollars (68 million euros).

As of April 30, 2018, the group had 246 Urban Outfitters stores in the United States, Canada and Europe, as well as 226 Anthropologie stores in the same markets. Free People, on the other hand, had 134 points of sale in North America.