Shares of Urban Outfitters (NASDAQ: URBN), an apparel retailer with brands including Anthropologie, Free People, and its namesake Urban Outfitters, are up over 6% Wednesday afternoon after the company reported record fourth-quarter sales data.
Urban Outfitters announced its net sales for the three months and the year ended Jan. 31, 2020: Sales increased 3.6%, compared to the prior year, to a record $1.17 billion. Better still, comparable retail-segment net sales increased 4%, thanks to growth in the digital channel. The strong digital growth was partially offset by negative retail-store sales, as the company continues to struggle with its brick-and-mortar business. Comparable retail-segment net sales increased 9% at Free People and 6% at Anthropologie Group, while the Urban Outfitters figure was flat.
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