URBN reports record holiday sales; Q4 gross margin may deleverage on higher transport costs

URBAN OUTFITTERS INC

Total company net sales +14.6% vs 2019 for two months ended Dec 31; comparable retail net sales +14%.
By brand: Free People Group comparable sales +47%, Anthropologie Group +15%, Urban Outfitters +3%.
Wholesale segment net sales -18% due to reduction in promotional wholesale.
Company now expects Q4 gross margin deleverage due to higher-than-anticipated inbound transportation costs.
For the eleven months: total net sales +14.4% vs 2019; comparable retail +16%; 56 stores opened, 10 closed.

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