Brington Investment Limited - Urban Outfitters Stock Hits Mid-2021 High After Strong Holiday Sales

WAN CHAI, Hong Kong - Jan. 11, 2024 - PRLog -- The firm behind Anthropologie, Nuuly, and other fashion brands reported record net revenues for the two months ending December 31, up 10% from the same period in 2022. Total retail sector net sales rose 8%, while comparable retail segment net sales increased 6%.

The company said that the increase in comparable sales was driven by "high-single-digit" rise in digital channel sales and a "low-single-digit" improvement in retail store sales.

Abercrombie & Fitch Co. (ANF) and American Eagle Outfitters Inc. (AEO) reported strong holiday sales on Monday, raising their fourth-quarter expectations.

The firm also announced that Shea Jensen will become the next head of Urban Outfitters Brand, North America. She formerly led the women's fashion brand Good American, which was co-founded in 2016 by British businesswoman Emma Grede and reality TV star Khloe Kardashian.

Shares of Urban Outfitters rose 7.7% to $38.68 on Tuesday, after reaching a high of $39.71, its best level since summer 2021.

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