URBN Reports Record Holiday Sales

Urban Outfitters (URBN)

PHILADELPHIA, PA — Urban Outfitters, Inc. (NASDAQ: URBN) this week announced net sales for the two and eleven months ended December 31, 2022.

Total Company net sales for the two months ended December 31, 2022 increased 2.3% compared to the two months ended December 31, 2021. Total Retail segment net sales increased 1%, with comparable Retail segment net sales increasing 2%, partially offset by a 1% negative impact of foreign currency translation. The increase in Retail segment comparable net sales was driven by low single-digit positive growth in digital channel sales and low single-digit positive growth in retail store sales. By brand, comparable Retail segment net sales increased 15% at the Free People Group and 7% at the Anthropologie Group and decreased 10% at Urban Outfitters. Wholesale segment net sales decreased 22% driven by a decrease in Free People wholesale sales primarily due to a decrease in sales to department stores. Nuuly segment sales increased 150% due to a 153% increase in its subscribers during the two months ended December 31, 2022, as compared to the prior year period.

For the eleven months ended December 31, 2022, total Company net sales increased 5.1% compared to the eleven months ended December 31, 2021. Comparable Retail segment net sales increased 4%, driven by high single-digit positive growth in retail store sales due to increased store traffic and low single-digit positive growth in digital channel sales. Wholesale segment net sales decreased 3%, primarily driven by a decrease in Free People Group wholesale sales primarily due to a decrease in sales to department stores, partially offset by an increase in sales to specialty accounts. Nuuly segment sales increased 176% due to a 187% increase in its subscribers during the eleven months ended December 31, 2022, as compared to the prior year period.

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During the eleven months ended December 31, 2022, the Company opened a total of 33 new retail locations including: 19 Free People Group stores (including 7 FP Movement stores), 7 Urban Outfitters stores, 6 Anthropologie Group stores and 1 Menus & Venues restaurant; and closed 7 retail locations including: 3 Urban Outfitters stores, 3 Anthropologie Group stores, and 1 Free People Group store. During the eleven months ended December 31, 2022, 4 Urban Outfitters franchisee-owned stores and 1 Anthropologie Group franchisee-owned store were opened.

Urban Outfitters, Inc. offers lifestyle-oriented general merchandise and consumer products and services through a portfolio of global consumer brands comprised of 265 Urban Outfitters stores in the United States, Canada and Europe and websites; 241 Anthropologie Group stores in the United States, Canada and Europe, catalogs and websites; 191 Free People stores in the United States, Canada and Europe, catalogs and websites, 11 Menus & Venues restaurants, 6 Urban Outfitters franchisee-owned stores and 2 Anthropologie Group franchisee-owned stores as of December 31, 2022. Free People, FP Movement and Urban Outfitters wholesale sell their products through department and specialty stores worldwide, digital businesses and the Company’s Retail segment.

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