Urban Outfitters reports 10% sales lift, appoints new North America brand president

By

Benjamin Fitzgerald

Published
Jan 9, 2024

Urban Outfitters Inc. announced on Monday net sales for the two months ended December 31 increased 10%, on the back of double-digit comp growth across its Anthropologie and Free People brands.

The U.S. apparel firm said total retail segment sales increased 8%, with comparable retail segment sales increasing 6%; driven by high single-digit positive growth in digital channel sales and low single-digit positive growth in retail store sales.

Comparable retail segment sales increased 20% at Free People and 14% at Anthropologie and decreased 13% at Urban Outfitters. Wholesale segment sales increased 15% driven by an increase in Free People wholesale sales primarily due to increases in sales to department stores and specialty accounts, partially offset by a decrease in Urban Outfitters wholesale sales.

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Nuuly segment net sales increased 71% primarily driven by a 58% increase in its subscribers, the Philadelphia-based company added.

For the eleven months ending December 31, Urban Outfitters Inc. reported an 8% uptick in sales.

The company also announced Shea Jensen will be joining as president of Urban Outfitters brand, North America as of February 5.

In this role, Shea will oversee merchandising, marketing, digital and retail operations for the Urban Outfitters brand in North America.

“It is with great pleasure that Sheila and I welcome Shea to the Urban Outfitters brand,” said Richard Hayne, chief executive officer.

“Shea is a strong leader with extensive experience across all retail channels. We are delighted to have Shea join the brand and believe her authentic leadership style and customer-first mindset will be a great asset to the brand.”

Jensen brings over 30 years of retail experience with a proven track record in operations, e-commerce, business strategy, merchandising and innovation. She has held several key leadership positions at Nordstrom and joins us from Good American, where she was president.