Full-year results show retail’s importance for Urban Outfitters
Denim and lifestyle clothing retail group Urban Outfitters has reported full-year revenues of $4.8 billion for the period ending January 31, 2023. This figure represents growth of 5.4% year on year.
It said its sales in retail stores had increased by 3.9% year on year, while sales in its wholesale segment had fallen by 0.8%.
Within retail, though, growth came at the group’s Free People and Anthropologie chains, both of which have extensive denim collections in their ranges.
Comparable net sales were up by 11.5% at Free People, while the figure for Anthropologie was 11.3%. In contrast, sales decreased by 7.1% at Urban Outfitters retail stores.
At the end of January 2023, the group operated 188 Free People stores, 174 of them in the US. The number of Anthropologie stores in its network was 238, with 207 of the stores in the US. The group operated 263 Urban Outfitters stores, of which 183 were in the US, 18 in Canada and 62 were in Europe.
Image: Free People.
