PHILADELPHIA, PA — Urban Outfitters, Inc. (NASDAQ: URBN) has reported impressive sales growth for the two and eleven months ended December 31, 2024, fueled by strong digital performance and expansion across key brands and markets.
For the two months ending December 31, 2024, total company net sales grew 10% compared to the same period in 2023. The company’s Retail segment saw a 7% net sales increase, supported by a 6% rise in comparable sales. Growth was driven by high single-digit expansion in digital channels and low single-digit growth in retail stores. Anthropologie led the way with a 10% comparable sales increase, followed by Free People at 9%, while Urban Outfitters experienced a 4% decline. FP Movement stood out, posting a remarkable 23% rise in comparable sales within the Retail segment, along with a 6% increase for the broader Free People brand.
Nuuly, the company’s clothing rental and resale platform, recorded standout performance with a 55% surge in net sales, driven by a 53% jump in average active subscribers compared to the prior year. Wholesale segment net sales also increased by 29%, primarily attributed to Free People’s success in expanding its presence with specialty retailers and department stores.
For the eleven months ended December 31, 2024, Urban Outfitters logged a 7% increase in total company net sales compared to the same period in 2023. Retail segment sales grew 5%, with comparable sales rising 3%, supported by mid single-digit growth in digital channels and modest in-store sales gains. Nuuly continued its momentum, delivering 54% growth in net sales as average active subscribers climbed 51%. Wholesale segment sales climbed 15%, once again led by Free People’s growing presence in third-party retail spaces.
The company also pursued aggressive physical expansion throughout the year, opening 45 new retail locations, including 26 Free People stores (15 of which were FP Movement), 12 Anthropologie stores, and seven Urban Outfitters locations. The company closed 12 underperforming stores—six Urban Outfitters, four Anthropologie, and two Free People.
Urban Outfitters’ robust performance highlights its strategy of balancing digital growth with targeted retail expansion and leveraging the strength of its diverse brand portfolio to engage evolving consumer preferences.
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