Urban Outfitters Q4 Sales Down 7%

(RTTNews) - Urban Outfitters Inc. (URBN) Tuesday said its fourth-quarter sales dropped 6.9% to $1.09 billion from $1.17 billion last year.

Comparable retail segment sales decreased 7% due to negative retail store sales as stronger conversion rates could not offset the reduced store traffic caused by the coronavirus pandemic and related occupancy restrictions.

Lower store sales were partially offset by strong double-digit growth in digital channel sales.

By brand, comparable retail segment sales increased 6% at Free People and decreased 6% at Urban Outfitters and 11% at the Anthropologie Group. Wholesale segment net sales decreased 7%.