Urban Outfitters Inc. has reported a positive 2.3% increase in holiday sales for the months of November and December. This growth can be attributed to the strong performance of its Anthropologie and Free People brands. The Philadelphia-based retailer saw a 1% increase in total retail sales, with comparable retail segment net sales rising by 2%. However, this growth was affected by a 1% negative impact from foreign currency translation.

The rise in comparable retail segment sales can be attributed to the success of both online and physical store sales, which experienced a low single-digit positive growth. Urban Outfitters saw significant increases in net sales at its Free People Group, with a growth of 15%, and its Anthropologie Group, with a growth of 7%. However, net sales at the Urban Outfitters brand itself declined by 10%.

The company’s wholesale segment, specifically sales of Free People products to department stores, experienced a significant decline in net sales of 22%. On a more positive note, the company’s Nuuly segment, which offers a clothing rental subscription service, saw a remarkable increase in sales of 150% due to a surge in subscribers.

Looking at the eleven-month period ending December 31, Urban Outfitters reported an overall 5.1% increase in total company sales compared to the previous year. This growth was primarily driven by a 4% increase in comparable retail segment net sales, which can be attributed to strong physical store sales and a modest increase in online sales.

In addition to its positive sales performance, Urban Outfitters also expanded its retail presence during the year. The company opened 33 new stores across its brands, including Free People, Urban Outfitters, and Anthropologie. However, it also closed seven retail locations, indicating a focus on optimizing its store footprint.

Overall, the increase in holiday sales for Urban Outfitters highlights the strength of its Anthropologie and Free People brands. The company’s strategic expansion of physical stores and the success of its Nuuly segment have positioned it for continued growth in the competitive fashion retail market.

Useful Links:
1. Urban Outfitters Official Website
2. Anthropologie Official Website