Urban Outfitters sees uptick in holiday sales on Anthropologie, Free People

By

Benjamin Fitzgerald

Published
Jan 10, 2023

Urban Outfitters Inc. announced on Monday a 2.3% uptick in holiday sales for the two months ending December 31, on the back of solid comparable retail growth and double-digit sales lifts at Anthropologie and Free People.

The Philadelphia-based apparel retailer said total retail sales increased 1%, with comparable retail segment net sales increasing 2%, partially offset by a 1% negative impact of foreign currency translation.

The increase in retail segment comparable sales was driven by low single-digit positive growth in both its digital channel sales and retail store sales, said the owner of Urban Outfitters, Anthropologie and Free People brands.

By brand, comparable retail segment net sales increased 15% at the Free People Group and 7% at the Anthropologie Group, but decreased 10% at Urban Outfitters.

Wholesale segment net sales decreased 22%, driven by a decrease in Free People wholesale sales, hurt by a decrease in sales to department stores. The company's Nuuly segment sales increased 150% due to a 153% increase in subscribers during the two months.

For the eleven months ended December 31, total company sales increased 5.1% compared to the prior-year period. Comparable retail segment net sales increased 4%, driven by high single-digit positive growth in retail store sales, helped by an increase in store traffic and low single-digit positive growth in digital channel sales.

During the year, the company opened a total of 33 new retail locations including: 19 Free People Group stores (including 7 FP Movement stores), 7 Urban Outfitters stores, 6 Anthropologie Group stores and 1 Menus & Venues restaurant. It also closed 7 retail locations including: 3 Urban Outfitters stores, 3 Anthropologie Group stores, and 1 Free People Group store.