Urban Outfitters Inc. has reported that sales for the third quarter rose 12.3% to a record US$1.53 billion, as the US retailer delivered strong growth across all brands and channels. The company said retail sales increased 9.6%, with comparable retail sales up 8% for the quarter ending 31st October, driven by high single-digit growth in both digital channel sales and retail store sales.
By brand, comparable sales surged 12.5% at Urban Outfitters, increased 7.6% at Anthropologie, and rose 4.1% at Free People. Subscription sales climbed 48.7%, fuelled by a 42.2% rise in average active subscribers. Wholesale revenues were up 7.6%, supported by an 8.4% increase in Free People wholesale sales, primarily due to stronger demand from specialty customers.
The robust sales performance delivered record profit for the three-month period, with net income reaching US $ 116.4 million.
Richard Hayne, chief executive officer of Urban Outfitters Inc., said the company was “pleased to report record revenues, profits, and earnings per share for the quarter.” He added that trends seen in the previous quarter had “remained consistent, with broad-based comparable sales growth and robust results in the Retail, Subscription, and Wholesale segments.” These outcomes, he said, demonstrated the strength of the company’s diversified business model, which continued to capture market share and support long-term growth.
Earlier this month, Urban Outfitters expanded its presence in Spain with the opening of a new flagship store at Valencia’s Plaza del Ayuntamiento, bringing its total number of stores in the country to four.
