A record quarter for Urban Outfitters
Philadelphia-based clothing group Urban Outfitters has reported revenues of $1.2 billion for the first three months of its current business year, February, March and April 2024.
This figure represents an increase of 7.8% year on year and is a record for the first quarter.
Once again, sales at the Urban Outfitters brand itself were down, falling by 12.4% to reach $270 million. However, there was strong growth at Anthropologie and Free People, both of which have extensive denim collections.
Sales increased by 11% at Anthropologie, reaching more than $525 million. At Free People, growth was 16.4% to give a sales revenue figure of almost $320 million.
Chief executive, Richard Hayne, said customer demand for the group’s spring-summer collections remained robust and that this was grounds for optimism that sales growth would continue in the second quarter.
Image: Anthropologie.
