Urban Outfitters Inc. reveals a remarkable 10% surge in net sales for the two months concluding on December 31, driven by robust double-digit growth across its Anthropologie and Free People brands.
The U.S. apparel giant reports an 8% upswing in total retail segment sales, with a corresponding 6% increase in comparable retail segment sales. This growth is fueled by high single-digit positive trends in digital channel sales and low single-digit positive growth in retail store sales.
Free People leads the pack with an outstanding 20% increase in comparable retail segment sales, followed by Anthropologie with an impressive 14% surge. However, Urban Outfitters faces a 13% decrease in comparable retail segment sales. On the wholesale front, there is a notable 15% increase, primarily driven by rising Free People wholesale sales to department stores and specialty accounts, somewhat offset by a decline in Urban Outfitters wholesale sales.
The Nuuly segment witnesses an exceptional 71% increase in net sales, propelled by a substantial 58% growth in subscribers, marking a significant achievement for the Philadelphia-based company.
For the eleven months leading up to December 31, Urban Outfitters Inc. reports a solid 8% uptick in sales, underlining the company’s sustained growth.
In a strategic move, Urban Outfitters Inc. welcomes Shea Jensen as the new President of Urban Outfitters brand, North America, effective February 5. In her role, Shea will spearhead merchandising, marketing, digital, and retail operations for the Urban Outfitters brand in North America.
Richard Hayne, Chief Executive Officer, expresses enthusiasm, stating, “It is with great pleasure that Sheila and I welcome Shea to the Urban Outfitters brand. Shea is a strong leader with extensive experience across all retail channels. We are delighted to have Shea join the brand, and we believe her authentic leadership style and customer-first mindset will be a great asset to the brand.”
Jensen brings over 30 years of retail experience, showcasing a proven track record in operations, e-commerce, business strategy, merchandising, and innovation. Her previous leadership roles at Nordstrom and her most recent position as President at Good American demonstrate her wealth of expertise.
