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.

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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.