Urban Outfitters holiday sales up 14.6% vs 2019; margin could fall on freight costs
Urban Outfitters reported total net sales up 14.6% for the two months ended December 31, 2021, compared with the same period in 2019, and up 14.4% for the eleven months. The company said fourth-quarter gross margin could deleverage because of higher inbound transportation costs, and it compared results to fiscal 2020 rather than fiscal 2021 because of COVID-19 store closures. The filing also attached forms of 2017 Stock Incentive Plan award agreements.
- Total net sales rose 14.6% for the two months ended December 31, 2021, versus 2019; comparable Retail segment sales rose 14%.
- Wholesale segment net sales fell 18% for the two months, mainly from reducing Free People Group sales to promotional wholesale customers.
- Company said total fourth-quarter gross margin could deleverage due to higher than anticipated inbound transportation costs.
- In the eleven months ended December 31, 2021, the company opened 56 retail locations and closed 10.