Urban Outfitters, Inc., which operates the Anthropologie, Free People, FP Movement, Urban Outfitters, and Nuuly consumer brands, has reported that total company net sales for the two months ended December 31, 2024, increased 10 percent compared to the two months ended December 31, 2023.
Total Retail segment net sales increased 7 percent, while comparable Retail segment net sales increased 6 percent. The increase in Retail segment comparable net sales was driven by high-single-digit positive growth in Digital channel sales and low-single-digit positive growth in Retail store sales.
Comparable Retail segment net sales increased 10 percent at Anthropologie, grew 9 percent at Free People and decreased 4 percent at Urban Outfitters. FP Movement brand Retail segment comparable net sales increased 23 percent, and Free People brand Retail segment comparable net sales increased 6 percent.
Nuuly segment net sales increased 55 percent, primarily driven by a 53 percent increase in average active subscribers in the current period versus the prior year period.
Wholesale segment net sales increased 29 percent, driven by an increase in Free People wholesale sales due to an increase in sales to specialty customers and department stores.
For the eleven-month year-to-date (YTD) period ended December 31, 2024, total company net sales increased 7 percent compared to the YTD period ended December 31, 2023. Total Retail segment YTD net sales increased 5 percent year-over-year, with comparable Retail segment net sales increasing 3 percent. The increase in Retail segment YTD comparable net sales was reportedly driven by mid-single-digit positive growth in Digital channel sales and low-single-digit positive growth in retail store sales.
Nuuly segment net sales increased 54 percent, primarily driven by a 51 percent increase in average active subscribers in the current YTD period versus the prior-year YTD period.
Wholesale segment YTD net sales increased 15 percent, driven by an increase in Free People wholesale sales that was reportedly due to increased sales to specialty customers and department stores.
During the 2024 YTD period, the company opened 45 new retail stores, including 26 Free People stores (including 15 FP Movement stores), 12 Anthropologie stores and 7 Urban Outfitters stores; and closed 12 retail locations, including 6 Urban Outfitters stores, 4 Anthropologie stores and 2 Free People stores.
Urban Outfitters, Inc. is comprised of 263 Urban Outfitters stores in the United States, Canada and Europe and websites; 245 Anthropologie stores in the United States, Canada and Europe, catalogs and websites; 222 Free People stores, including 53 FP Movement stores, in the United States, Canada and Europe, catalogs and websites, 9 Menus & Venues restaurants, 7 Urban Outfitters franchisee-owned stores and 2 Anthropologie franchisee-owned stores as of December 31, 2024.
Free People, FP Movement and Urban Outfitters wholesale sell their products through department and specialty stores worldwide, digital businesses and the company’s Retail segment.
Nuuly is primarily a women’s apparel subscription rental service, offering rental products from the company’s own brands, third-party brands and one-of-a-kind vintage wear.
Image courtesy Anthropologie/Urban Outfitters, Inc.
