American lifestyle retailer Urban Outfitters has seen its Q3 net sales report a record US $ 1.13 billion.
When compared to the same quarter two years back, the jump has been a good 14.6 per cent.
The lifestyle retailer saw its comparable retail segment net sales surge by 14 per cent for the quarter that ended 31 October 2021. It has attributed the good performance to strong double-digit growth in channel sales.
Notably, the comparable retail segment net sales at the Free People Group, Anthropologie Group and Urban Outfitters, respectively, rose by 55 per cent, 9 per cent and 7 per cent.
Besides, net sales for the total retail segment surged by 16 per cent, whereas the same for the wholesale segment fell by 15 per cent during the period.
The quarter saw Urban Outfitters generate US $ 89 million in net income. The retailer’s net sales for 9 months that ended 31 October 2021 increased by 14.3 per cent from what it was during the same period in 2019.
Founded in 1970, Urban Outfitters owns a portfolio of reputed brands like Anthropologie, BHLDN, Free People, FP Movement and Terrain. It is known mainly for apparels, footwear, beauty and homeware, amongst others.