Urban Outfitters reports record sales
Urban Outfitters, the operator of the Anthropologie, BHLDN, Free People, Terrain and Urban Outfitters brands, saw its total net sales rise by 3.5% to a record $893 million in its third quarter.
Comparable retail net sales increased by 1% in the three months to 31 October. Excluding the estimated impact of the North American hurricanes in the quarter, comparable retail net sales increased by 2%.
Looking at the various brands, comparable retail sales were up 5% at Free People, 2% at Anthropologie and 1% at Urban Outfitters.
The group’s net income was $45 million and $107 million for the three and nine months periods respectively.
Richard Hayne, Urban Outfitters chief executive, said: “I am pleased to announce record third quarter sales, positive retail segment comps at all three brands and another strong performance from Free People wholesale. Record sales were driven by improved apparel execution across all channels and brands.”
During the nine months ended 31 October, the company opened a total of 16 new locations including eight Free People stores, four Urban Outfitters stores, three Anthropologie Group stores and one food and beverage restaurant. It also closed six stores.
