Urban Outfitters sales up – at last
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Anthropologie parent Urban Outfitters sales have finally turned around after a series of declining quarters.
In the three months to January, same store sales rose six per cent – the first quarterly increase of 2014. It was a significant turnaround from a 10 per cent slump in the third quarter.
Overall revenue increased by 11.6 per cent, to US$1.01 billion.
Urban Outfitters operates retail chains under the brands Anthropologie, Free People and its own name. The company says demand rose most strongly in Urban Outfitters and Free People stores.
CEO Richard Haye said the company was pleased to report what was its first billion dollar quarter, fuelled by positive retail segment ‘comps’ across all its brands.
“It is encouraging to see this sales trend continue into Q1.”
Questions & Answers
Q.Which of the company's retail brands saw the strongest increase in demand during this period?
Which of the company's retail brands saw the strongest increase in demand during this period?
Demand rose most strongly in the Urban Outfitters and Free People stores. The company operates retail chains under these names, as well as Anthropologie.
Q.How did this quarter's same store sales performance compare to the previous quarter?
How did this quarter's same store sales performance compare to the previous quarter?
Same store sales rose six per cent in this quarter, which was a significant turnaround. The previous quarter saw a 10 per cent slump in same store sales.
Q.When was this sales increase recorded, and what was its significance for the company?
When was this sales increase recorded, and what was its significance for the company?
The sales increase was recorded in the three months to January. This marked the first quarterly increase for Urban Outfitters in 2014, following a series of declining quarters.
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