Urban Outfitters hails record fourth quarter sales
Urban Outfitters, the parent company of Anthropologie, BHLDN, Free People and Urban Outfitters, has seen its fourth quarter net sales rise by 13.9% to a record $1.33 billion compared to the same period two years ago..
In the three-month period to 31 January, comparable retail segment net sales increased by 14% following strong double-digit growth in online sales, which partially offset lower sales in stores following reduced footfall due to the Covid-19 pandemic.
Giving an update on the performance of its brands, Urban Outfitters said comparable retail segment net sales climbed by 49% at the Free People Group, and by 14% and 3% at Anthropologie and Urban Outfitters respectively. Total retail segment net sales grew by 15%.
Meanwhile, total company net sales in the year to 31 January rose by 14.2% compared to two years ago prior to the pandemic.
Richard Hayne, Urban Outfitters chief executive, said: “Record fourth quarter sales were driven by positive ‘comps’ at all brands. Strong customer response to our early spring offerings bode well for continued sales growth in the first quarter.”
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