Urban Outfitters, a US-based lifestyle products and services company, announced its sales fell 31.9 per cent to $588.48 million in first quarter (Q1) FY21 ended on April 30, 2020 compared to sales of $864.41 million in same period prior year. Net loss for the quarter were $138.4 million compared to net income of $32.5 million in same period prior year.
Urban Outfitters, a US-based lifestyle products and services company, announced its sales fell 31.9 per cent to $588.48 million in first quarter (Q1) FY21 ended on April 30, 2020 compared to sales of $864.41 million in same period prior year. Net loss for the quarter were $138.4 million compared to net income of $32.5 million in same period prior year.#
Company reported that gross profit for Q1 FY21 were $11.84 million (Q1 FY20: $269.05 million). Selling, general and administrative expenses were $210.57 million ($229.03 million). Loss from operations for the quarter were $198.57 million compared to Income of $42.70 million in Q1 FY20.
Urban Outfitters, a US-based lifestyle products and services company, announced its sales fell 31.9 per cent to $588.48 million in first quarter (Q1) FY21 ended on April 30, 2020 compared to sales of $864.41 million in same period prior year. Net loss for the quarter were $138.4 million compared to net income of $32.5 million in same period prior year.#
Sales of Anthropologie group were $234.07 million ($354.98 million). Urban Outfitters sales were $237.32 million ($316.80 million). Free People brand sales dropped to $107.66 million ($186.19 million). Menus & Venues sales fell to $3.15 million ($6.42 million).
Urban Outfitters, a US-based lifestyle products and services company, announced its sales fell 31.9 per cent to $588.48 million in first quarter (Q1) FY21 ended on April 30, 2020 compared to sales of $864.41 million in same period prior year. Net loss for the quarter were $138.4 million compared to net income of $32.5 million in same period prior year.#
Sales of retail segment decreased to $561.23 million ($782.56 million). Wholesale segment dropped to $20.98 million ($81.85 million).
Urban Outfitters, a US-based lifestyle products and services company, announced its sales fell 31.9 per cent to $588.48 million in first quarter (Q1) FY21 ended on April 30, 2020 compared to sales of $864.41 million in same period prior year. Net loss for the quarter were $138.4 million compared to net income of $32.5 million in same period prior year.#
“I am incredibly proud of our teams for their hard work, dedication and resilience over the last two months. The actions we’ve taken during the quarter to strengthen our balance sheet and help preserve liquidity provides us with financial flexibility during this difficult period,” Richard Hayne, chief executive officer at Urban Outfitters, said in a press release.
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