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fourth quarter gross profit margins could decline by approximately 50 basis points compared to the prior year
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2023 Q3
17 Dec 22
total company sales growth in the low single-digit range
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2023 Q3
17 Dec 22
total company sales growth in the low single-digit range
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2023 Q3
17 Dec 22
we believe our URBN Retail segment comp sales could register low single-digit positive for the fourth quarter
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2023 Q3
17 Dec 22
Supply chain costs have dropped precipitously over the last six months, and our speed-to-market capabilities are almost back to FY '20 levels.
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2023 Q3
17 Dec 22
we believe the Anthropologie and Free People brands could continue to post nicely positive results, while the Urban brand might continue to underperform
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2023 Q3
17 Dec 22
Urban Outfitters' customers are younger with less discretionary income and accumulated assets. And the current elevated inflation around necessities like rent, food and energy has had a greater impact on them. These customers are transacting less often, and when they do shop, they're looking for a deal.
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2023 Q3
17 Dec 22
third quarter business performed in line with our expectations, as discussed on the August call
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2023 Q3
17 Dec 22
the Anthropologie brand delivered a strong improvement in their markdown rate
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2023 Q3
17 Dec 22
The Urban Outfitters brand markdown rate increased the most significantly versus fiscal '20
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2023 Q3
17 Dec 22
The decline in operating profit was largely due to increased markdowns during the quarter. Markdowns were higher than last year because the markdown rates last year at all brands were exceptionally low and because each brand had excess inventory in certain categories.
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2023 Q3
17 Dec 22
We also remain committed to entering the spring selling season with leaner inventories, which would give us the opportunity to deliver lower markdown rates
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2023 Q3
17 Dec 22
it's probably a combination of the three
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2023 Q3
17 Dec 22
Is it the price architecture? Is it the assortment? Or is it a macro issue?
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2023 Q3
17 Dec 22
we see them pulling back more than you would expect.
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2023 Q3
17 Dec 22
The November slowdown we did observe it with all three brands. I would say -- but I want to emphasize it was a slight, slight slowdown and -- detectable, but slight. And we have -- that has since passed and our sales right now are performing very nicely.
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2023 Q3
17 Dec 22
Q1 ending inventory up about 32%, Q2 up about 44%. How much of that was in transit?
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2023 Q3
17 Dec 22
Inventory has remained elevated for the past year due to higher inventory costs resulting from increased inbound freight costs, planned earlier receipts to protect sales against a volatile supply chain and excess slower selling product in certain categories.
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2023 Q3
17 Dec 22
Higher carrier rates primarily resulting from higher fuel and peak surcharges than last year, could deleverage delivery expense and contribute to a decline in fourth quarter gross profit margin rates.
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2023 Q3
17 Dec 22
merchandise margins could be flat in the fourth quarter as the favorability in IMU, due in part to lower supply chain costs versus prior year could be offset by higher markdowns needed to reduce inventory levels
(No comment added)
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2023 Q3
17 Dec 22