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Urban Outfitters’ parent company reports full-year sales growth driven by online – while in-store sales fell

Image courtesy of Urban Outfitters

URBN, the parent company of Urban Outfitters and Anthropologie Group, has reported sales growth driven by strong online sales – while in-store sales declined by a smaller amount – in its latest financial year.

URBN net sales came in at $4.5bn (£3.3bn) in the year to January 31 2022, – including $1.7bn (£1.2bn) from Urban Outfitters, $1.8bn (£1.3bn) from Anthropologie Group, and $1bn (£0.7bm) from the Free People Group. That’s 14.2% up on the same time in 2020. Within that, like-for-like retail sales grew by 16% to £1.3bn (£0.96bm), thanks to double digital online growth that was, however, offset by a single digit reduction in in-store sales as store traffic reduced. Wholesale sales grew fell 23% as the group reduced Free People Group’s sales to promotional wholesale customers.

In the fourth quarter alone, net sales came in 13.9% ahead of the previous year, at a record $1.3bn (£0.96bn).

During its latest year, the group opened 56 new shops and now sells online and through 261 Urban Outfitters stores in the US, Canada and Europe, 238 Anthropologies Group stores in same markets, as well as three franchisee-run stores. Its other six brands, which include Free People and FP Movement, largely sell through department stores and other third-party shops as well as online.

The group has appointed Francis Pierrel as president of Urban Outfitters in the US. His previous roles include president of stores and ecommerce at Ralph Lauren in North America, as well as senior wholesale, retail and ecommerce roles at Lacoste and Diesel in the US and Europe.

“I am pleased to welcome Francis to our company and the Urban Outfitters brand,” says Richard A. Hayne, chief executive of URBN. “He is a seasoned omnichannel retail executive with deep experience in managing iconic brands across all channels – ecommerce, stores, and wholesale. We believe his strong leadership will greatly benefit the Urban Outfitters brand.”

Urban Outfitters is a Leading retailer in RXUK Top500 research, while Anthropologie is ranked Top250.

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