Cataloger and retailer Urban Outfitters Inc. reported earnings of $18.4 million for the fourth quarter ended Jan. 31, a 120% increase over the comparable quarter last year.
Net sales for the fourth quarter increased by 50% to a record $176.1 million, compared to $117.5 million for the quarter ended Jan. 31, 2003. Direct sales for the quarter were 419.7 million, compared to $9.3 million in the prior year’s quarter.
The Philadelphia-based company, which markets under the Urban Outfitters and Anthropologie brands, attributes the rise to a 110% increase in direct sales, as well as a 21% increase in comparable store sales and a 29% increase on wholesale sales.
For the fiscal year ended Jan. 31, total net sales were $548.3 million, versus $422.7 million in the prior year. Direct sales were $51.1 million for the year, versus $31.7 million for the 12 months ended Jan. 31.
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