Urban Outfitters, Inc., which operates the Anthropologie, Free People, FP Movement, Urban Outfitters, and Nuuly brands, reported strong results for the two-month holiday selling period and 11-month year-to-date (YTD) period through December 31, 2023.

Consolidated net sales for the two-month holiday selling period ended December 31 increased 10 percent compared to the corresponding period in 2022.

  • Total Retail segment net sales increased 8 percent, with comparable retail segment net sales rising 6 percent. The increase in retail segment comparable net sales was driven by high-single-digit growth in digital channel sales and low-single-digit growth in retail store sales.
  • Comparable Retail segment net sales increased 20 percent at Free People and 14 percent at Anthropologie and decreased 13 percent at Urban Outfitters.
  • Wholesale segment net sales increased 15 percent, driven by an increase in Free People wholesale sales primarily due to sales increases to department stores and specialty accounts, partially offset by a decrease in Urban Outfitters wholesale sales.
  • Nuuly segment net sales increased 71 percent, primarily driven by a 58 percent increase in subscribers versus the end of the prior year’s comparable period.

Consolidated net sales for the 11-month YTD selling period ended December 31 increased 8 percent compared to the corresponding period in 2022.

  • Total Retail segment net sales increased 6 percent, with comparable retail segment net sales rising 5 percent. The increase in retail segment comparable net sales was driven by high-single-digit positive growth in digital channel sales and mid-single-digit positive growth in retail store sales.
  • Wholesale segment net sales decreased 4 percent, driven by a decrease in Free People wholesale sales primarily due to decreased sales to department stores.
  • Nuuly segment net sales increased 92 percent, primarily driven by a 58 percent increase in subscribers versus the end of the prior year’s comparable period.

During the eleven months ended December 31, the company opened 26 new retail locations, including 11 Free People stores (including 7 FP Movement stores), 7 Urban Outfitters stores, 7 Anthropologie stores, and 1 Menus & Venues restaurant. The company closed 12 retail stores, including 5 Urban Outfitters stores, 4 Anthropologie brand stores, 1 Free People brand store, and 2 Menus & Venues restaurants. 

During the eleven months ended December 31, 2023, the company opened one Urban Outfitters franchisee-owned store.

Image courtesy Urban Outfitters