Urban Outfitters Inc., announced net sales for the two months ended 31st December increased 10 per cent, on the back of double-digit comp growth across its Anthropologie and Free People brands.
The US apparel company reported that while comparable retail segment sales climbed by 6 per cent, total retail segment sales increased by 8 per cent. This rise was mostly due to low single-digit positive growth in retail store sales and high single-digit positive growth in digital channel sales.
Sales in the same retail segment rose by 20 per cent at Free People, 14 per cent at Anthropologie, and 13 per cent at Urban Outfitters. Sales in the wholesale category rose by 15 per cent, led by a rise in Free People wholesale sales, which were mostly attributable to growth in sales to department stores and specialty clients. A decline in Urban Outfitters wholesale sales was somewhat offset by this growth.
The Philadelphia-based company stated that a 58 per cent growth in its members was the main reason for the 71 per cent increase in Nuuly division net revenues.
During the eleven months that concluded on 31st December, sales at Urban Outfitters Inc. increased by 8 per cent. Additionally, the firm declared that on 5th February, Shea Jensen will take over as president of the Urban Outfitters brand in North America. Shea will be in charge of the retail, digital, merchandising, and marketing for the Urban Outfitters brand in North America in this capacity.
“It is with great pleasure that Sheila and I welcome Shea to the Urban Outfitters brand,” said Richard Hayne, chief executive officer.
