Urban Outfitters Reports Record Net Income for Fourth Quarter and Fiscal Year

NEW YORK (TheStreet) -- Urban Outfitters  (URBN) reported record net income for the fourth quarter and fiscal year and reported earnings per share for the quarter that surpassed analysts' expectations.

The apparel retailer reported net income of $89 million for the fourth quarter and $282 million for the full year. Earnings per diluted share were 59 cents and $1.89 for the fourth quarter and full year, respectively. Analysts' consensus estimate for the fourth quarter was 55 cents a share.

Total net sales for the fourth quarter increased 6% year over year to a record $906 million. Comparable retail segment net sales, which include the company's comparable direct-to-consumer channel, increased 1%. Comparable retail segment net sales increased 20% at Free People and 10% at Anthropologie and decreased 9% at Urban Outfitters. Wholesale segment net sales increased 24%.

"I am pleased to announce that URBN produced record earnings for the fourth quarter and year ending January 31, 2014," said CEO Richard A. Hayne in a statement. "Looking forward, customer reaction to the new spring fashion offerings at our Anthropologie and Free People brands have been strong, but given the continued challenges facing the Urban Outfitters brand, we remain very cautious about URBN`s first quarter performance."

The stock was falling 0.43% to $37.35 in after-market activity on Monday.

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