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Europe continues to perform remarkably well, delivering a 13% retail segment comp for the quarter. Customer traffic was exceptionally strong in stores
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2023 Q3
17 Dec 22
the brand in North America will need to be more promotional to clear through excess inventory in Q4
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2023 Q3
17 Dec 22
we'll continue to deploy incremental markdowns throughout the holiday season to improve their inventory to sales relationships
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2023 Q3
17 Dec 22
, earlier receipts than originally planned and excess slower selling product in certain categories.
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2023 Q3
17 Dec 22
The 19% third quarter inventory increase is due mostly to higher inventory costs
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2023 Q3
17 Dec 22
we believe inventory will show a further reduction by the end of Q4
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2023 Q3
17 Dec 22
Total inventory increased 19% versus the prior year. This represents a 25 point reduction from the year-over-year increase of 44% in the second quarter
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2023 Q3
17 Dec 22
The brand is working through this excess inventory and is planning to be much cleaner by the end of Q4.
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2023 Q3
17 Dec 22
5% on top of the 20%
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2023 Q3
17 Dec 22
The prior year, the AUR at Urban was actually up almost 20%.
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2023 Q3
17 Dec 22
I believe the Urban brand in North America is -- AUR is up about 5%
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2023 Q3
17 Dec 22
I think the AOV and the AUR will be largely static. I'm not suggesting there won't be any increases, there probably will be. But given the inflation environment and now -- I think quickly, in our industry, some deflation around the supply chain, I don't think there's going to be a lot of room to increase prices dramatically.
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2023 Q3
17 Dec 22
we're negatively impacted by freight during the whole year, almost all of the year
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2023 Q3
17 Dec 22
In Europe, the UO brand performed much better, benefiting from extra strong store traffic, positive AUR and excellent marketing efforts.
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2023 Q3
17 Dec 22
Retail segment comp sales also grew by 4%, and higher AOV and AUR were the principal drivers of positive comps.
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2023 Q3
17 Dec 22
Overall, sales in November are on track to achieve our Q4 goal of delivering a total company comp in the low single digits.
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2023 Q3
17 Dec 22
On our August call, we noted a bifurcation in our customer shopping behavior with brands offering higher price points and serving a more affluent customer, posting better results. The Anthropologie, Free People, FP Movement and Nuuly brands, all have customers who have been able and willing to spend despite the inflationary environment. In the third quarter, the customers of each of these brands drove strong demand. To date, in November, we have seen a slight softening in demand.
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2023 Q3
17 Dec 22
our increased inventory is due in part to the cost of inventory.
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2023 Q2
7 Sep 22
Our URBN comp sales growth trends have started out the quarter similar to our Q2 comp sales performance with low single-digit positive Retail segment comps. Based on our quarter-to-date performance and sales plans, we believe our URBN Retail segment comp sales could register low single digit positive for the third quarter.
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2023 Q2
7 Sep 22
The Anthropologie team delivered an impressive 7% Retail segment comp in Q2 versus the prior year.
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2023 Q2
7 Sep 22