City Outfitters posts Q3 FY20 gross sales of $970 mn


City Outfitters (URBN), a US-based way of life services and products firm, reported 1.eight per cent gross sales decline to $969.6 million in its third quarter (Q3) FY20 ended on October 31, 2020 in comparison with gross sales of $987.four million in the identical interval for earlier fiscal. Nevertheless, firm’s web revenue throughout Q3 FY20 jumped to $76.7 million (Q3 FY19: $55.6 million).

 

“I’m happy to announce URBN delivered report Q3 earnings per share despite an extremely tough working setting,” Richard A Hayne, chief govt officer at URBN, stated in a press launch. “Our 38 per cent improve in web income was pushed by robust product assortments mixed with tight management of stock and bills.”

 

Gross revenue for the reported quarter was $322.9 million ($321.1 million). Promoting, common and administrative bills have been $224.four million ($245.eight million). Firm’s revenue from operations grew to $98.5 million ($75.2 million).

 

Through the reported quarter, gross sales of City Outfitters section elevated to $394.zero million ($374.four million). Anthropologie Group gross sales dropped to $358.four million ($398.7 million). Free Individuals model gross sales remained flat at $206.6 million ($205.four million).

 

Retail section gross sales marginally decreased to $895.6 million ($897.1 million). Wholesale section gross sales plunged to $67.2 million ($88.three million).

Fibre2Fashion Information Desk (JL)

City Outfitters (URBN), a US-based way of life services and products firm, reported 1.eight per cent gross sales decline to $969.6 million in its third quarter (Q3) FY20 ended on October 31, 2020 in comparison with gross sales of $987.four million in the identical interval for earlier fiscal. Nevertheless, firm’s web revenue throughout Q3 FY20 jumped to $76.7 million (Q3 FY19: $55.6 million).





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