Dive Summary:
- Citing its best holiday sales to date, Urban Outfitters and its brands reported record breaking net sales with its Free People brand leading the pack at an increase of 33%.
- After the holiday surge, the retailer is reporting an overall increase of 12% or $2.6 billion dollars while having opened 46 new stores.
- Chief Executive Richard A. Hayne attributes the continued success of the retailer to better products and more disciplined inventory management.
From the Article:
"...The holidays treated Urban Outfitters (URBN) well, as the retail company reported Thursday its best holiday sales, driven by stronger performance across all brands.
Urban Outfitters, which operates Anthropologie, BHLDN, Free People, Terrain and its namesake stores, saw net sales for the two months ended Dec. 31 increase to $666 million, a 15% jump over the same period in 2011..."
