Urban Outfitters reports drop in sales at Milan and Seattle stores
Urban Outfitters has reported a drop in both footfall and sales in stores in areas most impacted by the coronavirus.
The company said stores in Milan and Seattle had been most affected as well as shops in a “few other” locations.
Meanwhile, stores in other places and its digital channels have seen no significant impact.
In a statement, the company said: “ Due to the uncertainty around the spread of COVID-19 in North America and Europe, at this time, we cannot forecast the extent to which COVID-19 will impact our business in the first quarter.”
Earlier this month, Urban Outfitters reported that total company net sales in the three months to 31 January had increased by 3.6% year-on-year to a record $1.17 billion. Comparable retail segment net sales rose by 4%.
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