Key Takeaways
- Urban Outfitters Inc. joined the list of fashion retailers reporting strong 2023 holiday sales.
- The owner of Anthropologie, Nuuly, and other brands said from the end of October to the end of December, sales rose 10% to a record.
- Abercrombie & Fitch Co. and American Eagle Outfitters Inc. this week also posted big gains in holiday sales.
- Shares of Urban Outfitters rose 7.7%, hitting their highest level since mid-2021.
Count Urban Outfitters Inc. (URBN) as the latest fashion retailer to report strong 2023 holiday sales. The news sent shares higher Tuesday.
The company behind Anthropologie, Nuuly, and other apparel brands posted record net sales for the two months ended Dec. 31, increasing 10% from the same 2022 period. Total retail segment net sales were up 8%, with comparable retail segment net sales rising 6%.
The retailer indicated the jump in comparable sales was driven by “high-single-digit” growth in digital channel sales, and a “low-single-digit” gain in retail store sales.
Monday, Abercrombie & Fitch Co. (ANF) and American Eagle Outfitters Inc. (AEO) announced robust holiday sales, and raised their fourth-quarter guidance.
The company also noted that Shea Jensen would be the new president of Urban Outfitters Brand, North America. She previously was head of women’s apparel retailer Good American, which was co-founded in 2016 by British entrepreneur Emma Grede and reality TV star Khloe Kardashian.
Shares of Urban Outfitters gained 7.7% to finished Tuesday’s session at $38.68, after moving as high as $39.71, their highest level since the summer of 2021.
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