URBN - Urban Outfitters falls after EPS falls short of estimates

Urban Outfitters (NASDAQ:URBN) reported comparable retail segment sales jumped 14% in Q4. The retailer said the sales tally was driven by strong double-digit growth in digital channel sales, partially offset by low double-digit negative retail store sales primarily due to reduced store traffic. By brand, comparable retail segment net sales increased 49% at Free People, were up 3% at Urban Outfitters and were 14% higher for the Anthropologie chain. Wholesale segment sales were down 22% during the quarter primarily from a reduction in Free People Group's sales to promotional wholesale customers. Nuuly segment net sales increased by $11.3M driven by the continued expansion of the number of subscribers since its launch at the end of the fiscal second quarter a year ago. Gross margin fell 22 basis points during the quarter. The decrease in adjusted gross profit rate was primarily due to lower initial merchandise markups and an increase in

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Urban Outfitters falls after EPS falls short of estimates