Urban Outfitters reports record Q4 sales $1.33B, up 13.9% vs FY2020; appoints new Urban Pres.

URBAN OUTFITTERS INC

Total Q4 net sales $1.33B (+13.9% vs Q4 FY2020); comp retail +14% driven by digital, partly offset by store traffic declines.
Free People Group comp +49%, Anthropologie Group +14%, Urban Outfitters +3%.
Q4 gross margin likely to deleverage more than planned due to higher inbound transportation costs.
Francis Pierrel appointed President of Urban Outfitters NA, reporting to CEO Sheila Harrington; previously CEO of Club Monaco.
FY2022 net sales $4.55B (+14.2% vs FY2020); added 56 new retail locations, closed 18.

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