The global consumer retailer that operates brands like Anthropologie and Free People said total company net sales and same-store sales for November and December both increased 5%. Comparable sales were driven by double-digit growth in the company's digital channel, which offset negative retail store sales.
For the 11 months ended Dec. 31, total company net sales increased 10% from 2017, with same-store net sales up 9%. The company saw strong, double-digit growth in its digital channel and positive retail store sales for the same period. Wholesale net sales grew 10%.
Urban Outfitters' said it saw "record holiday sales" in 2018, but investors weren't impressed and sent the stock down 2.5% after hours.
Retail stocks were hammered Thursday after several companies announced mixed results while analysts were expecting strong numbers due to a new tax law, record consumer sentiment and consumer spending numbers that have been the best in years.
Kohl's Corp. (KSS) - Get Reporttumbled by 4.8% after announcing that same-store holiday sales from November to December grew only 1.2%, down from year-earlier growth of nearly 7%. The company raised fiscal-year guidance and now expects fiscal-year earnings of $5.50 to $5.55 a share, compared with prior guidance of $5.35 to $5.55.
Target Corp. (TGT) - Get Report shares were dragged down 2.9% by the negative sentiment in retail stocks despite reporting holiday sales that easily beat expectations and forecasting double-digit adjusted earnings growth in the fiscal year.