Urban Outfitters, Inc. (NASDAQ:URBN) Q3 2023 Earnings Conference Call November 21, 2022 5:15 PM ET
Company Participants
Oona McCullough - Executive Director of IR
Richard Hayne - CEO
Frank Conforti - Co-President and COO
Melanie Marein-Efron - CFO
Sheila Harrington - Global CEO of Urban Outfitters & Free People Groups
Tricia Smith - Global CEO of Anthropologie Group
Conference Call Participants
Kimberly Greenberger - Morgan Stanley
Lorraine Hutchinson - Bank of America
Adrienne Yih - Barclays
Matthew Boss - JPMorgan
Paul Lejuez - Citi
Dana Telsey - Telsey Group
Janet Kloppenburg - JKR
Jay Sole - UBS
Marni Shapiro - The Retail Tracker
Operator
Good day, and thank you for standing by. Welcome to the Urban Outfitters, Inc. Third Quarter Fiscal '23 Earnings Call. [Operator Instructions] As a reminder, this conference is being recorded.
I would now like to hand the conference over to your speaker for today, Oona McCullough, our Executive Director of Investor Relations. Ma'am, you may begin.
Oona McCullough
Good afternoon, and welcome to the URBN third quarter fiscal 2023 conference call. Earlier this afternoon, the company issued a press release outlining the financial and operating results for the nine and three month period ending October 31, 2022. The following discussions may include forward-looking statements. Please note that actual results may differ materially from those statements. Additional information concerning factors that could cause actual results to differ materially from projected results is contained in the company's filings with the Securities and Exchange Commission.
On today's call, you will hear from Richard Hayne, Chief Executive Officer; Frank Conforti, Co-President and COO; and Melanie Marein-Efron, Chief Financial Officer. Following that, we will be pleased to address your questions. For more detailed commentary on our quarterly performance and the text of today's conference call, please refer to our Investor Relations website at www.urbn.com.
I will now turn the call over to Dick.
Richard Hayne
Thank you, Oona, and good afternoon, everyone.
Today, I'll begin the call with some brief remarks regarding our third quarter results and make a few observations concerning the consumer and the macro environment. I will then turn the call over to Frank and Melanie, who will provide more brand details along with our thoughts about future performance.
Overall, third quarter business performed in line with our expectations, as discussed on the August call. URBN delivered 4% total revenue growth in the quarter against a strong third quarter last year. Retail segment comp sales also grew by 4%, and higher AOV and AUR were the principal drivers of positive comps.