Urban Outfitters, which operates the Anthropologie, Free People, Leifsdottir, Terrain and Urban Outfitters brands, on Thursday reported record first-quarter earnings of $53 million. Net income was 31 cents a diluted share, a 72 percent increase over last year’s 18 cents, when earnings totaled $31 million.
Sales for the three months ended April 30 rose to $480 million, a 25 percent increase from $385 million in the same period last year. Comparable retail segment sales, including the direct-to-consumer channel, rose 16 percent and comp-store sales increased 11 percent for the first quarter. Comparable retail segment sales increased 22 percent at Anthropologie, 25 percent at Free People, 22 percent at Terrain and 9 percent at Urban Outfitters. Direct-to-consumer sales soared 42 percent and wholesale sales rose 4 percent for the quarter.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"