- Prachi Singh |
Urban Outfitters, Inc. reported that net sales for the two months ended December 31, 2017, increased 3.6 percent over the same period last year. The company said, comparable retail segment net sales increased 2 percent, driven by strong, double-digit growth in the direct-to-consumer channel, partially offset by negative retail store sales. By brand, comparable retail segment net sales increased 5 percent at Free People, 2 percent at the Anthropologie Group and 1 percent at Urban Outfitters. Wholesale segment net sales increased 6.8 percent.
For the eleven months ended December 31, 2017, total company net sales increased 1.2 percent over the same period last year, while comparable retail segment net sales decreased 1 percent. Wholesale segment net sales increased 9.9 percent during the period.
During the eleven months period, the company opened 18 new locations including eight Free People stores, five Urban Outfitters stores, four Anthropologie Group stores and one food and beverage restaurant; and closed six locations including: three Free People stores, one Urban Outfitters store, one Anthropologie Group store and one food and beverage restaurant.