Reported 5 months ago
Urban Outfitters Inc. reported strong first-quarter sales, driven by its Anthropologie and Free People brands, with a 4.6% increase in comparable sales and a 7.8% revenue rise to $1.2 billion. The sales performance of these brands, especially Free People's athleisure line, offset a 12% decline in the Urban Outfitters brand. As a result, Urban Outfitters shares rose 4.8% after-hours, with the company planning to open 57 new stores in the next fiscal year and close 21 locations, focusing on expanding Free People and Anthropologie.
Source: YAHOO